MOTHERSON

 Pressing the Pedal

A spate of acquisitions in the last five years has put Motherson Group among the 50 biggest automotive component firms globally. It is now eyeing a place in the top 10 by trebling revenues by 2025

In the aftermath of the global financial crisis triggered by the bankruptcy of Lehman Brothers, the world's largest rearview mirror maker, Visiocorp, found itself in dire straits in late 2008. It is then that nearly a dozen global automotive giants, including Daimler and Volkswagen, among others, chose to approach a hitherto unknown Indian parts maker, Motherson Sumi Systems, to bail the company out by acquiring it.

"The opportunity was brought to us by a customer, a German automaker," says Andreas Heuser, Head of Regional Chairman's Office, Europe, Motherson. "They were the first to come to us seeking a solution."

"What we needed to move forward was to gain the confidence and commitment of our global customers," says Barrie Painter, Executive Vice President, Global Sales, Marketing and Business Development, Samvardhana Motherson Automotive Systems Group BV (SMR BV) and Motherson Innovations. "It wasn't an easy pitch to make. Our takeover target was twice the size of our company. But customers expressed their support."

https://www.businesstoday.in/magazine/corporate/pressing-the-pedal/story/424352.html