Motherson Sumi Systems to buy wiring biz of US-based firm for $65.7 mn.

In one of its biggest acquisitions till date, auto component maker Motherson Sumi Systems will acquire US-based Stoneridge Inc's wiring harness business for a total consideration of USD 65.7 million (around Rs. 385 crore).

'The company has signed an agreement to acquire the Wiring harness business of Stoneridge Inc through asset purchase at transaction value of USD 65.7 million,' Motherson Sumi Systems Ltd. (MSSL) said in a statement.

The transaction includes six manufacturing facilities located in Portland, Indiana; Chihuahua, Mexico; Saltillo Mexico and Monclova, Mexico; as well as an engineering and administrative centre located in Warren, Ohio, it added.

FE