Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a step-down subsidiary of Samvardhana Motherson International (formerly Motherson Sumi Systems), through one of its European subsidiaries, has signed a binding undertaking to acquire a 100% stake in Cirma Enterprise, a French société par actions simplifiée, from Vinci Energies France, a French société par actions simplifiée.
Cirma Enterprise is into manufacturing and sale of Electrical Wiring and Interconnect Systems (EWIS) for aerospace, shipbuilding, allied Industries etc, with a turnover of € 11.41 million in CY22.
A communication from the company said that the above transaction will be presented to the employees' representatives body of Cirma Enterprise and, once agreed by Vinci Energies France, will be subject to customary closing conditions.
Once the deal is completed, it will make Motherson become Tier-1 to aerospace OEM, besides being closer to OEM to open further avenues for growth. It will also help diversify EWIS for aerospace, shipbuilding and other allied Industries from an existing portfolio of aero-structure components and machining. Moreover, it will help it align with the growth strategy and synergise with the existing wiring harness capabilities of Motherson, the company noted.
Also Read: