Samvardhana Motherson International has initiated a plan for phased operational reconfiguration of a few units located in Europe (including France, Spain, Germany etc). The units in consideration for phased operational reconfiguration are wholly owned subsidiaries of the Company. The Company along with its subsidiaries, has announced 15 acquisitions since September 2022, out of which 10 have been completed and the closing date has been achieved. Significant investment and commitments have been made towards the European region with the addition of 22 manufacturing facilities and around 7,000 employees from the completed transactions.
The operational reconfiguration will enable the company to streamline operations and provide agility to allow to ‘breathe with the market’ amidst changing industry dynamics and to better serve its customers. Once completed, the proposed reconfiguration would lead to cost base rationalization (amounting to around EUR 30 million cumulatively spent over the past 5 years). Further, there will be no material impact on revenue as this is being done in alignment with respective customers.
This operational reconfiguration would entail an estimated one-time cost in the range of EUR 25-30 million. This will be incurred towards a variety of different initiatives such as re-skilling of employees for other career opportunities, repurposing plant machines & equipment for alternative utilisation, manpower realignment ensuring maximum redeployment within other units in the region and other optimization -related expenses.
Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 165.15 |
| TVS Holdings | 11537.25 |
| Bosch | 34335.30 |
| UNO Minda | 1066.90 |
| Endurance Tech | 2361.05 |
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