Samvardhana Motherson International Will Acquire Dr. Schneider Group Entities’ Assets And Shares

Samvardhana Motherson International Ltd, a manufacturer of auto components, said on Monday that it will buy the assets and stock of the Dr Schneider Group businesses in Germany for a total enterprise value of around 118.3 million euros, or more than Rs 1,070 crore.

The business said in a regulatory filing that it has entered into an agreement to purchase assets and shares of the Dr Schneider Group companies from the bankruptcy administrator, Dr Joachim Exner, via its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV (SMRPBV).

The Dr Schneider Group is a producer of high-end, cutting-edge, and integrated electronic interior polymer systems, including lighting modules and smart surfaces. It is a market leader in air vent technology, ornamental interior polymer components with lights, and premium car market share. It further said that it employs around 4,500 employees in seven sites spread across five nations (Germany, Spain, Poland, USA, and China).

According to the corporation, the cost of the purchase is being carried out at an overall enterprise value of around 118.3 million euros, subject to certain routine actualizations and modifications.

According to the statement, the estimated enterprise value for shares of foreign subsidiaries is 49.2 million euros, and the estimated enterprise value for assets bought in Germany subject to certain actualizations is 69.1 million euros.

“We see a lot of opportunity and synergies in this industry, particularly on the R&D side. Motherson Chairman Vivek Chaand Sehgal remarked, “We are excited to welcome 4,500 individuals on our path toward our Vision 2025 and beyond.

More than 90% of Dr. Schneider Group’s goods have been created internally by a committed team of over 240 engineers working out of its well equipped R&D center in Germany, according to Motherson, who also noted that the company has over 200 patents as a consequence of its strong emphasis on R&D and product innovation.

According to the company, “with this acquisition, Motherson will also gain access to cutting-edge electronic interior polymer components and can offer these innovations and technologies to other emerging markets and to medium-segment customers by leveraging its existing global footprint and customer relationships.”