French automotive supplier Faurecia, a FORVIA Group company, will divest SAS Autosystemtechnik, a cockpit modules business, to Samvardhana Motherson International, an Indian automotive industry company, for €540 million.

The cockpit module integrator, which is based in Germany, caters to the automotive industry with assembly and logistics services. Created in 1996 as a joint venture between Sommer Allibert and Siemens VDO, the business registered net sales of €896 million in 2022.

It has over 5,000 employees in more than 24 locations in Europe, America, and Asia.

Patrick Koller — Faurecia CEO said: “We have successfully developed and positioned SAS as one of the leading global providers of assembly and logistics solutions for the automotive industry. This strong market position is founded on deep technical expertise and strong commitment of the teams.

“I am convinced that this transaction would unlock additional value for SAS. This would also allow FORVIA to focus on its core business activities developing breakthrough technologies and would fulfill our non-strategic asset divestment program of €1Bn by end-2023.”

For Samvardhana Motherson International, the deal will supplement its modules and polymer products portfolio.

Vivek Chaand Sehgal — Samvardhana Motherson International chairman said: “We have always added new products and technologies to closely serve our customers in a more cohesive way. The acquisition of SAS is an important step in this direction. By adding complementing capabilities which SAS brings, we will be able to further enhance our tier 0.5 position with our customers.

“With this acquisition, we will be even more diversified in our customer base and products. This acquisition will transform Motherson Group to be a leading assembler of cockpits modules globally, with special focus on EV models.”

  Faurecia, FORVIA Group, Germany, Motherson, Patrick Koller, Samvardhana Motherson, SAS Autosystemtechnik, Vivek Chaand Sehgal