Motherson Sumi Systems

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Motherson Sumi Systems Limited
Traded asBSE: 517334
NSE: MOTHERSUMI
IndustryAutomotive
Founded1 January 1986; 38 years ago (1986-01-01)[1]
Founder(s)Smt. S. L. Sehgal
Vivek Chaand Sehgal[2]
Headquarters
Noida, Uttar Pradesh
,
India
Number of locations
41[3]
Area served
Worldwide
Key people
Vivek Chaand Sehgal (Chairman)
Laksh Vaaman Sehgal (Vice Chairman)[4]
Products
RevenueIncrease ₹63,767 crore (US$8.9 billion) (2020)[5]
Decrease ₹2,654 crore (US$370 million) (2020)[5]
Decrease ₹1,237 crore (US$170 million) (2020)[5]
Total assetsIncrease ₹45,495 crore (US$6.4 billion) (2020)[5]
Total equityIncrease ₹10,945 crore (US$1.5 billion) (2020)[5]
Number of employees
114,628 (2020)[5]
ParentSamvardhana Motherson Group
Websitewww.motherson.com

Motherson Sumi Systems Limited (MSSL)[6] was established in 1986 and is part of the Motherson Group. Motherson Sumi Systems Ltd. is a joint venture between Samvardhana Motherson International Ltd of India and Sumitomo Wiring Systems Ltd. (SWS) of Japan.[7] A collaboration with Tokai Electric Co. (now SWS) in 1983 led to the incorporation of Motherson Sumi Systems in 1986, primarily as a wiring harness manufacturer. The company was listed in 1993 on BSE and NSE in India. Motherson Sumi Systems is one of the largest manufacturers of wiring harnesses for commercial vehicles and rearview mirrors for passenger cars in the world and India's largest manufacturer of automotive wiring harnesses and mirrors for passenger cars. It is also a leading supplier of plastic modules and components in Europe and India. Motherson Sumi Systems[6] is currently the largest auto parts provider in India and was listed among the Fab 50 companies of India by Forbes magazine[8][9][10] It has been ranked No. 1 auto ancillary in India for seven consecutive years by Fortune India 500.[11][12] The Motherson Group is ranked 21st among global automotive suppliers by Automotive News. As of March 2018 – 2019, the company, along with its subsidiaries, had a consolidated revenue of US$9.1 billion.

History[edit]

"Motherson" was established in 1975. Motherson Sumi Systems was established in 1986 as a Joint Venture with Sumitomo Wiring Systems of Japan.

MSSL has done 18 acquisitions, the first being in wiring harness in 2002. Few major acquisitions by the company are that of rear view mirror business from Visiocorp (now renamed as Samvardhana Motherson Reflectec) in 2009, Peguform (now named Samvardhana Motherson Peguform) in 2011, wiring harness business of Stoneridge Inc in 2014, PKC group in 2017, Reydel Automotives in 2018 and Bombardier's UK rolling stock electrical component and systems business in 2019 which established Motherson as a global Tier-1 supplier to the major OEMs of the automotive industry.

Following are the key timelines.[13][14][15][16]

Year Events
1975 Motherson founded
1977 First Cable factory started
1983 Technical agreement with Tokai Electric Co. (Now Sumitomo Wiring Systems-Japan) Wiring Harness
1986 Establishment of Motherson Sumi Systems Ltd. in joint venture with Sumitomo Wiring Systems, Ltd., Japan
1993 Motherson Sumi Systems Ltd. listed on stock exchanges in India
1999 First Overseas office established (Austria)
2000 Representative Office at Singapore
2002 Acquisition of assets of Wexford electronics for manufacturing of wiring harnesses for material handling and earthmoving equipment; establishment of Design Centre at Ireland
2003 Offices in USA & UK established, Tool Room at Sharjah
2004 European Headquarters established in Germany
2009 Acquisition of rearview mirror business of Visiocorp. The new company is now known as Samvardhana Motherson Reflectec (SMR).
2011 Acquisition of Peguform, a global tier 1 manufacturer specializing in interior and exterior polymer modules. The acquired company is now known as Samvardhana Motherson Peguform (SMP)
2014 Acquisition of wiring harness business of Stoneridge Inc.
2017 Acquisition of PKC Group PLC, Finland, wiring harness business for heavy duty commercial vehicles
2018 Acquisition of Reydel Automotive Group for interior components which includes instrument panels, door panels, console modules, decorative parts and cockpit modules[17]
2019 Acquisition of Bombardier's UK rolling stock electrical component and systems business[18]

Business portfolio[edit]

The present product range of MSSL comprises wiring harnesses (electrical distribution systems), rearview mirrors, moulded plastic parts including car interior and exterior parts, bumpers, dashboards and door trims, complete polymer modules, rubber components for automotive and industrial applications, high precision machined metal parts and injection moulding tools.[19]

References[edit]

  1. ↑ "Profile". Official website. Archived from the original on 7 January 2012. Retrieved 31 January 2012.
  2. ↑ "Management". Official website. Retrieved 2 August 2019.
  3. ↑ "Global Presence - About Us". www.motherson.com. Retrieved 15 September 2019.
  4. ↑ "Motherson Sumi outlines Vision 2025; sees consolidated revenues rising to $36 billion". CNBC TV18. 18 January 2021. Retrieved 27 January 2021.
  5. ↑ 5.0 5.1 5.2 5.3 5.4 5.5 "Motherson Sumi Systems Ltd. Financial Statements". moneycontrol.com.
  6. ↑ 6.0 6.1 "Motherson Sumi: The secret". www.fortuneindia.com. Retrieved 14 September 2019.
  7. ↑ "Sumitomo Wiring System, Ltd". Sumitomo Wiring System, Ltd. official website. Retrieved 14 September 2019.
  8. ↑ "8 Indian companies in Forbes Asia's 'Fab 50' 2017 list; China dominates again". Forbes India. Retrieved 14 September 2019.
  9. ↑ "Asia's Fab 50 Companies". Forbes. Retrieved 14 September 2019.
  10. ↑ "Motherson Sumi: The sum of all parts". Forbes India. Retrieved 14 September 2019.
  11. ↑ "Motherson Sumi Systems – Fortune 500 List 2017 – Fortune India". www.fortuneindia.com. Retrieved 14 September 2019.
  12. ↑ "Motherson Sumi Systems – Fortune 500 List 2018 – Fortune India". www.fortuneindia.com. Retrieved 14 September 2019.
  13. ↑ "History". Official website. Retrieved 31 January 2012.
  14. ↑ "Motherson acquires Peguform". Economic Times. Retrieved 31 January 2012.
  15. ↑ "Motherson acquires Visiocorp PLC". DNA. Retrieved 31 January 2012.
  16. ↑ "Motherson acquires Empire Rubber". Business Line. Retrieved 31 January 2012.
  17. ↑ "Vivek Chaand Sehgal: Man of many parts". Forbes India. 2018. Retrieved 15 September 2019.
  18. ↑ "Acquisition of Bombardier's Rolling Stock Business". indiatimes.com.
  19. ↑ "'We have all the ingredients which say people are choosing the right car', Motherson Sumi Co-Founder". www.timesnownews.com. 28 May 2019. Retrieved 14 September 2019.

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