Motherson Sumi eyes acquisitions
Auto components maker Motherson Sumi Systems is looking for more acquisitions and is in talks with many potential takeover companies. A letter to the shareholders by Motherson Sumi Chairman Vivek Chaand Sehgal in the Annual Report of the company also noted that acquisitions must create value for the customers and must allow the company to achieve revenue and ROCE (return on capital employed) targets simultaneously. "We acquired a majority stake in Plast Met Group, headquartered in Turkey. This also marked an entry into a new country for us. As always, we are in talks with many potential takeover companies and are in a strong position to make acquisitions, even in a volatile environment," he said. "We will not make acquisitions only to achieve our top-line goals," the Chairman added.