'Motherson eats, drinks, sleeps cars' - Plastics News
’s growth strategy appears to turn the global auto supply chain upside down — the Indian component supplier and plastics molder has made a name buying firms in North America and Europe. The company has seen sales grow from $1. 5 billion in 2010 to $5. 5 billion this year, in large part by acquiring global suppliers in the West that had run into financial problems, rather than the more traditional path of growth by attracting... Motherson now makes 22 percent of the world’s passenger car rearview mirrors and has 1,500 molding machines. Its 2011 acquisition of Germany’s Peguform GmbH transformed it into one of the European auto industry’s largest suppliers of molded parts, assemblies and components. Plastics News sat down with MSSL Chairman Vivek Chaand Sehgal on a recent trip to India, where he talked about managing that rapid growth and his desire to keep it going. MSSL’s first big push globally came in 2009 with the acquisition of financially struggling Portchester, England-based rearview mirror maker Visiocorp plc, during the depths of the global financial crisis. Practically overnight, MSSL had a global presence in car mirrors and doubled sales to $1. 6 billion. Sehgal, talking from his office in Noida, just outside New Delhi, dismisses suggestions that it’s mainly about bargain hunting or overnight growth, though. Source: www.plasticsnews.com
