A.(PM-Istanbul) together known as Plast Met group (Turkey) through its subsidiary Samvardhana Motherson Reflectec (SMR).
With the successful closure of this acquisition, Motherson Group now has access to significant Turkish automotive market. Plast Met is a large automotive supplier in Turkey for injection moulded parts and sub-assemblies, and also owns a state of art commercial tool room engaged in manufacture and supplying of high end injection moulding tools to customers worldwide. Building on the capabilities of Plast Met group, Motherson will be able to support its customers in the European region more efficiently.
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SMRP BV successfully completed acquisition of majority stake in Plast Met Group through its subsidiary SMR equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Motherson Group enters Turkey, acquires Plast Met Group by Mayank Dhingra 18 Jan 2021
SamvardhanaMotherson Automotive Systems Group (SMRPBV) has today announced acquiring a majority stake in Turkey’s Plast Met Group.
The Plast Met Group comprises of Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met KalıpSan.veTic.A.Ş .(PM-Istanbul). The acquisition will be completed through Samvardhana Motherson’s subsidiary, Samvardhana Motherson Reflectec (SMR).
SMR will acquire 75 percent stake and will thereby enter into a partnership with the founder of the Plast Met Group – Erol Senol – who will retail 25 percent stake. The proposed deal is expected to be closed within three months subject to receipt of necessary approvals and is expected to be EPS accretive.
Motherson Sumi Subsidiary Acquires Majority Stake In Turkish Firm Plast Met Group moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.