The board of auto parts maker Motherson Sumi Systems has approved merger of two units and a group company with itself in order to consolidate its wiring harnesses and plastic components business.
Pankaj Mital COO of Motherson Sumi, in an exclusive interview with CNBC-TV18 says that the company's merger with Sumi Motherson Innovative Engineering Ltd (SMIEL), a subsidiary of Sumitomo Wiring Systems and a joint venture with Sehgal family, will help in localizing the Sumitomo brand.
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