Auto components major Motherson Sumi Systems Ltd. on Thursday announced a group restructuring under which it will demerge its domestic wiring harness business into a new company that will eventually be listed.
The reorganisation has been approved by the respective boards of MSSL and group firm Samvardhana Motherson International Ltd.
As part of the restructuring, after the demerger of wiring harness unit, SAMIL will be merged into MSSL to consolidate 100% shareholding in Samvardhana Motherson Automotive Systems Group BV as well as to bring all auto component and allied businesses in SAMIL under MSSL, the company said in a statement.
The group re…
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