Samvardhana Motherson International Limited has informed the Stock Exchange regarding formation of new Joint Venture between the Company and Macauto Industrial Co., Ltd., Taiwan.
MOTHERSON · price
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Samvardhana Motherson International Limited (SAMIL) has approved a Joint Venture with Macauto Industrial Co., Ltd., a Taiwan-based automotive interiors company founded in 1979 with over 100 registered patents. The JV will focus on designing, developing, and manufacturing manual and motorized sunshade systems for windows and roofs, along with wind deflectors for passenger and commercial vehicles. The new JV company will be incorporated in India, with SAMIL holding 50% + 1 share and Macauto holding 50% - 1 share, and SAMIL will consolidate the JV's revenues. The JV board will have 3 directors nominated by SAMIL and 2 by Macauto, with initial paid-up capital of 50,000 equity shares at INR 10 each. The partnership is not a related party transaction, and manufacturing and sales will initially be established in India with potential expansion to other geographies.
This is a positive development for shareholders as it expands Motherson's automotive interior product portfolio with patented sunshade technology, creates new revenue streams through consolidation, and leverages large insourcing opportunities from Motherson's global interior business. The tie-up with a specialized Taiwanese player strengthens the company's position as a one-stop integrated solutions provider for OEMs.