Mumbai, Feb. 10 -- Samvardhana Motherson International Ltd. has partnered with Japan's Sanko Co. Ltd. to develop sustainable packaging solutions in India and Europe. The joint ventures will operate through subsidiaries in India and Hungary, aiming to enhance material handling efficiency and cost-effective logistics.
Motherson's subsidiary SMGCL will hold a 51% stake in the Indian venture, while SMRC Automotive Holdings Netherlands will control 51% of the Hungarian unit. Sanko will own the remaining 49% in both. The Indian unit starts with an initial capital of Rs 500,000, while the Hungarian venture begins with €10,000.
Sanko, a leader in plastic material handling solutions, brings decades of experience in reusable and recyclable packaging. Motherson Chairman Vivek Chaand Sehgal emphasized that treating packaging as an engineered solution can drive efficiency and sustainability. Sanko President Toshihiko Goto highlighted the potential for global scalability, leveraging Motherson's presence in 44 countries.
Expanding beyond the auto sector, Motherson continues to grow in technology, healthcare, and aerospace. The new ventures aim to offer eco-friendly material handling solutions, optimize logistics, and enhance supply chain efficiency.
Published by HT Digital Content Services with permission from Construction World.