Auto component maker Motherson Sumi Systems (MSSL) intends to invest $80
million (approx Rs.400 crore) in its recently acquired rear-view mirror
manufacturer Visiocorp over the next 12 months.
The planned investment is likely to be used in restructuring, tooling and for
working capital requirements. Of the total, $50 million (approx Rs.250 crore)
will be raised through debt while MSSL will invest $15 million (approx Rs.75
crore) and the balance $15 million (approx Rs.75 crore) will be invested by
Motherson Sumi's JV partner, Samvardhana Motherson.
Motherson is also exploring the possibility of manufacturing few of its
existing products, such as wire harness, at Visiocorp's facility in China to
cater to the export markets.