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Motherson to acquire SAS Autosystemtechnik from Faurecia
Samvardhana Motherson Automotive Systems Group (SMRPBV) a subsidiary of Samvardhana Motherson International (SAMIL) has inked an agreement with Faurecia to acquire Germany-based SAS Autosystemtechnik (SAS). The company provides assembly and logistics services for the automotive industry. It has strong customer relationships with leading European and American OEMs, some of which span almost 3 decades. The company’s gross revenues were around 4.4 billion euro (Rs 38,667 crore) on principal basis with net revenues (IFRS) of 896 million euro (Rs 7,875 crore) for the year ended December 31st, 2022, with almost half of it contributed by EV programs. This acquisition will transform Motherson Group to be a leading assembler of cockpits modules globally, with special focus on EV models. We look forward to welcoming over 5,000 new members into the Motherson family.” Source -https://www.financialexpress.com/express-mobility/components/motherson-to-acquire-sas-autosystemtechnik-from-faurecia/2986097/
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