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India: Auto parts maker sets eyes on oversees assets

 |  December 18, 2014

Indian auto parts manufacturer Samvardhana Motherson announced plans to acquire assets in Mexico and Germany, according to reports.

The firm inked a $44.2 million buyout to take on Germany-based plastics car parts maker Scherer & Trier, a purchase that includes the acquisition of plants throughout Germany and Mexico. S&T filed for bankruptcy last March but has since focused on restructuring and increasing efficiency.

The company makes products for companies including Audi, Volkswagen, General Motors and Ford.

The companies say they expect to close the deal in January, though the acquisitions will need to obtain antitrust approval.

Full content: Plastics News

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