Mumbai, May 15 (UNI) Motherson Sumi Systems has informed BSE that the Company through its subsidiaries, Motherson Elastomers and Motherson Investments, has acquired, subject to approval of agreement by Australian Industrial Relations Commission, the business and assets of Empire Rubber (Bendigo, Victoria, Australia).
Empire Rubber, which was engaged in rubber mixing and manufacture of rubber extruded components, has been acqired from Huon Corporation (in liquidation), together with transfer of about 100 employees on a going concern basis.
The acquisition is expected to generate an annual business of approx Australian Dollar 35 million giving the Company an access for supply of these components to automotive OEMs and Tier I suppliers as well as non-automotive customers, including business under the trading name ''SilentBloc'' in Australia.
The acquisition will strengthen the Company's positioning as a full systems supplier to the OEMs, a press release here said.
UNI
Empire Rubber, which was engaged in rubber mixing and manufacture of rubber extruded components, has been acqired from Huon Corporation (in liquidation), together with transfer of about 100 employees on a going concern basis.
The acquisition is expected to generate an annual business of approx Australian Dollar 35 million giving the Company an access for supply of these components to automotive OEMs and Tier I suppliers as well as non-automotive customers, including business under the trading name ''SilentBloc'' in Australia.
The acquisition will strengthen the Company's positioning as a full systems supplier to the OEMs, a press release here said.
UNI
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