Nexans to Spin Off Autoelectric to Motherson
Nexans plans to sell its Autoelectric division to Motherson. Photo courtesy Nexans
PARIS—Nexans plans to sell its Autoelectric division to Samvardhana Motherson International Ltd. Autoelectric, is an $885 million company headquartered in Floss, Germany, that designs and manufactures wiring harnesses for the automotive industry.
“The time has come for Autoelectric to continue its development under a new owner that is deeply anchored in the automotive industry,” says Julien Hueber, CEO of Nexans. “Motherson represents a natural strategic fit and provides the right environment for the business to continue growing.”
“This acquisition is a significant milestone for [us],” adds Vivek Chaand Sehgal, chairman of the Motherson Group. “It will enable us to support our key customers with wiring harness [systems] and expand our global footprint to additional locations. We believe that our executional capabilities combined with Autoelectric’s strong engineering capabilities and customer relationships, will drive innovation and sustainable growth.”
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