Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Motherson Group to acquire majority stake in Turkey’s plastic molded parts supplier Plast Met

by DAILY SABAH

ISTANBUL Jan 18, 2021 - 8:18 pm GMT+3
Employees work at the reception area of the Motherson Group head office in Noida, Uttar Pradesh, India, Aug. 17, 2020.  (Getty Images)
Employees work at the reception area of the Motherson Group head office in Noida, Uttar Pradesh, India, Aug. 17, 2020. (Getty Images)
by DAILY SABAH Jan 18, 2021 8:18 pm
RECOMMENDED
Türkiye's main battle tank Altay is seen in this file photo, Nov. 15, 2012. (Photo by Mesut Er)

Türkiye inks $200M deal with S.Korean firm for parts of MBT Altay

altay-tank

Indian auto components maker Motherson Group is set to acquire a majority stake in Turkey's Plast Met Group, a key supplier of plastic molded parts, related sub-assemblies and injection molding tools, the company said Monday.

The acquisition is being carried out for an undisclosed amount through its subsidiary Samvardhana Motherson Reflectec (SMR), Bloomberg reported by citing the group statement. SMR will acquire a 75% stake as part of the deal and will enter into a partnership with Plast Met.

"This acquisition will mark the SMR and Motherson Group's entry into Turkey. Turkey is a strategic growth market for the Motherson Group, with annual passenger vehicle production of 1.4 million units and long-term growth potential,” the statement said.

The deal includes two of the Turkish company's subsidiaries, Plast Met Kalıp in Istanbul and Plast Met Plastik in the northwestern province of Bursa. Both manufacture injection molded parts, sub-assemblies for mirrors, trim modules and lighting systems.

Motherson Group Chairperson Vivek Chaand Sehgal said, “This acquisition marks another step towards the growth and diversification of Vision Systems vertical and the group overall."

He added that this marks the 25th acquisition by Motherson Group and they “will continue to work towards serving our customers with more products and service offerings globally.”

"Turkey is likely to play a key role as a competitive sourcing hub and as a platform to serve the group's customers in the European region. The proposed deal is expected to be closed within three months subject to receipt of necessary approvals," the statement added.

Erol Şenol, Plast Met Group founder said that both companies are aligned in their business objectives and philosophy.

“Together with the global know-how of Motherson Group and local expertise of Plast Met Group, I am confident that the alliance will enhance value to our customers,” Şenol was cited by Bloomberg.

RECOMMENDED
Türkiye's main battle tank Altay is seen in this file photo, Nov. 15, 2012. (Photo by Mesut Er)

Türkiye inks $200M deal with S.Korean firm for parts of MBT Altay

altay-tank
  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    motherson group plast met auto components plastic
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Greek naval forces conducted routine patrol missions around the Mediterranean island of Kastellorizo, one of the easternmost islands in Greece, which is just 3 kilometers (1.8 miles) from the southern coast of Kaş, Türkiye, Dec. 30, 2022. (Reuters Photo)

    Türkiye will not stand by as Greece threatens security: Erdoğan

    türkiye-greece-relations
    Far-right extremist Rasmus Paludan rants before burning the Quran, in Copenhagen, Denmark, Jan. 27, 2023. (AP Photo)

    Norway cancels Quran burning after reaction from Türkiye

    QURAN-BURNING

    'Time to fly': Türkiye unveils domestic light attack jet

    HÜRJET

    Türkiye summons envoys of 9 countries to express dismay over closure

    TURKIYE-EUROPE-RELATIONS
    No Image
    Beautiful beards, majestic mustaches compete at German championship
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021