Motherson Sumi subsidiary buys 60% stake in Chinese auto mirror manufacturer
Motherson Sumi Systems said that its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has closed the acquisition of a majority stake in Nanchang JMCG Mekra Lang Vehicle Mirror by Ningbo SMR Huaxiang Automotive Mirrors Ltd. (SMR NBHX).
SMR NBHX is a 50:50 joint venture in China between its subsidiary Samvardhana Motherson Reflectec (SMR) and Ningbo Huaxiang Electronic (NBHX Trim Group).
The deal was announced in October 2021 and was wrapped up within one and a half months.
SMR NBHX has bought a 60% stake in the Nanchang JMCG Mekra Lang Vehicle Mirror, while Jiangling Motors Corporation Group (JMCG) will continue to hold its stake of 40% in the company.
Nanchang JMCG Mekra Lang Vehicle Mirror manufactures automotive mirrors for pick-up trucks, passenger vehicles, and light as well as heavy commercial vehicles in China.
Following the closing of the deal, SMR is said to be equipped with improved capabilities to meet the present and future needs of vision systems for commercial vehicle original equipment manufacturers (OEMs) in the region.