Indian conglomerate Samvardhana Motherson Group has gobbled up companies and production capacity as it capitalizes on growing customer interest in the United States.
An initiative to push deeper into North America, in part through its Samvardhana Motherson Peguform subsidiary, has propelled a number of acquisitions and investments in recent years.
Motherson's flagship business unit, publicly traded Motherson Sumi Systems, is a joint venture with Japanese partner Sumitomo Wiring Systems. Two years ago, the venture counted 170 factories in 25 countries, with sales of $6.9 billion. Today it has 180 plants in 33 countries, producing wiring harnesses, rearview mirrors and other products. It is among India's largest auto suppliers, reporting approximately $7.2 billion in consolidated revenue in the last fiscal year.
According to Motherson Sumi Systems' five-year plan, it expects to reach global revenue of $18 billion in 2020.
In 2015, Motherson's SMP Automotive Systems Alabama venture invested more than $150 million to build a plant near Tuscaloosa, Ala., to supply bumpers, interior panels and other parts to Mercedes-Benz' plant in nearby Vance.
The plant employs 650 employees, and the company expects to continue building on the relationship.
Plastics maker Peguform is slated to expand into Japan and America.
"We have diversified the customer portfolio, even within the German car companies," Bimal Dhar, head of the company's polymer segment, said in last year's annual report. "Am I satisfied? Yes. Am I relaxing? Not yet, because we've got a lot of work to do."
Samvardhana Motherson Group ranks No. 26 on the Automotive News list of the top 100 global suppliers. The company's North American business, headquartered in Warren, Ohio, rose from No. 81 on last year's Automotive News list of the top 100 suppliers to North America No. 47 this year.