Motherson Sumi to Acquire Major Stake in Germany’s Peguform

Indian automotive components supplier Motherson Sumi Systems (MSSL) will acquire an 80% stake in Germany’s Peguform GmbH, a manufacturer of thermoplastic interior and exterior parts. MSSL will buy the stake from Peguform’s present owner, Austria-based Cross Industries AG, which will retain a 20% share. The deal will go through within three months, subject to European cartel office approval is received.

Peguform has 7,000 employees, at 16 plants in seven countries. The company operates two manufacturing facilities in Central and Eastern Europe, both in Slovakia.

Samvardhana Motherson has more than 40,000 employees and specializes in manufacturing of various components and modules such as rearview mirrors, wire harnesses and HVAC systems at 90 plants in 23 countries. It also has affiliates in the CEE, in Hungary and in the Czech Republic.