Group, India's largest and most diversified nonwovens group, Supreme Nonwovens, through its majority owned Thailand subsidiary Supreme Feltol Thailand Co, has acquired the automotive interior trims and NVH business of Futuris Automotive. Futuris is a subsidiary of Adient Plc, USA.
Supreme Feltol Thailand Co is a joint venture company between Supreme Treon and Feltol Thailand Manufacturing Company, which began supplying materials to Fod and Auto Alliance in Thailand in September 2019. The acquisition of Futuris will provide it wiht a second plant in Eastern Seaboard and employ 230 staff and workmen across its two manufacturing plants in Thailand.
Commenting on the acquisition, Amit Kavrie, managing director, Supreme, says: "This acquisition further reaffirms Supreme Group's commitment to our global automotive OEM customers. We continue to focus in our core business areas and with the investments in Thailand; the company is on course for a geographical expansion. The timing is perfect as the automotive industry is going through a major technological shift. Our strong R&D base, next-generation, non-woven material technologies together with competent engineering resources places us in a strong position to benefit from opportunities arising out of the technological shift. Over the next few months, the company will explore further opportunities for growth with auto OEMs in Thailand and South East Asia. We expect the Thailand subsidiary alone to generate annual sales revenue of US$ 50 million (Rs 355 crore) within the next five years."
Supreme Treon, a Supreme Group company, is the largest supplier of interior trims and NVH components with strong design, development, tooling, engineering and manufacturing capabilities. Major customers of the company include Ashok Leyland, Force Motors, Ford Motors, General Motors, Honda, Hyundai, John Deere, Mahindra & Mahindra, Maruti Suzuki, MG Motors, Nissan-Datsun, Renault, SML Isuzu, Tata Motors, Toyota and Volvo Eicher. Supreme Treon has 14 manufacturing plants strategically located across automotive manufacturing hubs and supplies to over 100 different passenger and commercial vehicle models.