New Delhi, Jan 4 (PTI) Samvardhana MothersonInternational Ltd (SAMIL), the holding firm of auto componentmajor Samvardhana Motherson Group, today said it has acquired100 per cent stake in MS Global India Pvt Ltd (MSGI) fromKorea-based MS Group.
MSGI is a supplier of various components, includingframes for chassis of commercial vehicles.
The acquisition will allow SAMIL enter a new vertical -sheet metal parts with focus on hot stamping - a lightweighting technology for high strength sheet metal parts.
"We look forward to the opportunities that this step ina new direction will bring to us," Samvardhana Motherson GroupChairman V C Sehgal said in a statement.
The company, however, did not disclose financialdetails.
"We believe that there are many synergies at play, mostimportant being, it increases our offerings in terms ofcontent per car, as these parts are used in both passenger andcommercial vehicles," Sehgal said. PTI MSSMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.