NEW DELHI & MILAN – Samvardhana Motherson International Ltd. (SMIL) and Magneti Marelli Spa have signed a Joint Venture (JV) agreement in the field of shock absorbers for the automotive sector.
SMIL will enter the JV through the acquisition of a stake representing the 50 percent of the share capital of Magneti Marelli Shock Absorbers India Private Limited, Magneti Marelli-owned company devoted to the shock absorber business in India.
The JV will leverage Magneti Marelli’s existing shock absorbers manufacturing facility in Chakan, Pune (India), with state of the art product and automation technology.
The JV will also benefit from the global industrial and commercial footprint of Magneti Marelli worldwide shock absorber business, as well as from its portfolio of added value shock absorbers technological solutions like the full displacement valve, the frequency dependent dual stage and the digressive curve valving, aimed at reaching high performance levels in terms of comfort and noise, vibration and harshness.
In addition, this JV will have synergies with the existing Sintered Metal Components business of SMG, which the Samvardhana Motherson group acquired in 2012. The JV will also have access to expertise & capabilities of SMG in the areas of metalworking, engineering and design and IT solutions etc.
