Motherson Sumi Systems said that its step down subsidiary, Samvardhana Matherson Automotive Systems Group BY (SMRP BY), Netherlands, has completed the acquisition of Reydel Automotive Holdings BY and Reydel Automotive Management BY on August 2, 2018 at Amsterdam, upon receipt of all acquisition-related approvals.
Reydel manufactures interior components and modules for global automotive customers. This is the 21st acquisition by the Samvardhana Matherson Group and will further bolster Motherson's offerings in the automotive interiors space.
Reydel has 20 manufacturing facilities with a presence in 16 countries and 5,650 employees. Its top customers include PSA, Ranault, RSM, Ssangyong, Mahindra and Mahindra, Volkswagen and General Motors.
''We are delighted that all acquisition related requirements are now complete and happy to officially welcome Reydel Automotive into the Matherson family. Reydel's world class development capabilities and strong customer relationships have great alignment with our existing offerings,'' said Vivek Chaand Sehgal, Chairman of Samvardhana Matherson Group. (UNI)