Motherson Sumi SMR to acquire majority stake in Plast Met Group by admin- Monday, January 18th, 2021 04:30:07 PM
Samvardhana Motherson Automotive Systems Group BV (SMRPBV), announced the purchase of a majority stake in Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met Kalıp San.VeTic.A.S.(PM-Istanbul) collectively referred to as Plast Met organization (Turkey) through its subsidiary Samvardhana Motherson Reflectec (SMR).
SMR will collect 75% stake and as a result will enter right into a partnership with the founder of Plast Met. The deal includes two companies of Plast Met group engaged in manufacturing of injection moulded elements, sub-assemblies for mirrors, trim modules and lighting structures. Plast Met also has abilties of manufacturing high-give up complex injection moulding equipment which cater to customers in Turkey as well as other international markets. The Companies suggested mixed revenues of Euro 33mn in 2019 and Euro 28mn (predicted) in 2020.