Samvardhana Motherson Peguform Business Report up until FY 2010
Joint Ventures-In March 2008, the Company took over the majority of stock of Changchun Peguform Automotive Plastics Technology Co. Ltd, (CPAT) - a joint venture of the Company and the Chinese automotive supplier CAIP. The CPAT joint venture has an annual turnover of approximately EUR 40 million from producing plastic parts for interiors - mainly door linings. (From a press release on March 27, 2008)
Major Contracts-In August 2005, the Company announced that it supplies the Audi A4 with bumpers and instrument panels.
Changes in Ownership
-In August 2009, Polytec Holding AG announced the sale of the Company to Pierer Knunz Group of Austria. (From a press release on August 13, 2009)
-In October 2008, Austria-based Polytec Holding AG announced the closing of the acquisition of the Company. Polytec acquired 100% of the shares of the Company from Cerberus Capital Management L.P. (From a press release on October 21, 2008)