- Motherson Sumi Systems said that the transaction includes the transfer of assets, employees and inventories, on a debt-free and cash-free basis and is valued at around $10 million approximately
- The transaction is subject to customary closing events and expected to complete in Q4 FY20-21
Auto component biggie Motherson Sumi Systems has signed an agreement to acquire the activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico (BT Ensambles México).MRS is part of the Motherson Rolling Stock Division. It designs and manufactures electrical cabinets, power packs and electrical distribution systems for leading rolling stock manufacturers.
Jim Vounassis, chief operating officer, Bombardier Transportation said that the company aims to enhance its adaptability and agility to changing market conditions, in order to continue to increase its competitiveness and improve its global footprint. He added that this divestiture is in alignment with our global transformation strategy of reducing the activities to the core- and integrating competencies.
Valued at around $ 10 million approximately
Motherson Sumi Systems said that the transaction includes the transfer of assets, employees and inventories, on a debt-free and cash-free basis and is valued at around $10 million approximately. The transaction is subject to customary closing events and expected to complete in Q4 FY20-21.
Vivek Chaand Sehgal, Chairman, MSSL said that the focus is always on adding value to our customers’ supply chain and catering to their requirements. The company is strengthening the relationship with Bombardier under the global partnership agreement and the collective strength will position the company as a preferred solutions provider to customers in the rolling stock business
