Motherson Sumi System Ltd, a flagship company of the Samvardhana Motherson Group, has bagged a contract worth EUR 500 million from a group of German car makers for supply of rear view mirrors for six years.
The contract has been bagged through Samvardhana Motherson Reflectec, a subsidiary of Motherson Sumi System Ltd, and the delivery is slated to begin from 2011.
Mr Vivek Chaand Sehgal chairman of Motherson Group told PTI that “We have bagged contracts worth EUR 500 million from a group of German auto majors, including BMW and Volkswagen for supply of rear view mirrors for use in their cars.”
He said the orders will be supplied from SMR's European plants, including the one at Hungary. He added that “We will start delivering the orders by 2011 and the deal is for a period of 5 to 6 years. It will mean a business of EUR 80 million to EUR 90 million annually.”
(Sourced from www.steelguru.com
Thursday, August 27, 2009
Motherson Sumi bags mega deals from German car makers
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