GIE Groupe AD (GIE), an indirect wholly owned subsidiary of Samvardhana Motherson International Limited, has discontinued its operations, the component major said in a regulatory filing on Thursday.
GIE was acquired by Samvardhana Motherson International on May 13, 2024, as part of the acquisition of ADI Group. GIE was not carrying out any business or operation, so the shareholders of GIE approved its dissolution. Accordingly, the Commercial Register approved the dissolution of GIE on April 14, 2026, effective from November 1, 2017.
GIE's other income during FY 2024-25 was €122,917 and its net worth was ‘Nil’. Further, the said other income and net worth of GIE contributed negligibly to the consolidated revenue and consolidated net worth of the Company as of the end of FY 2024-25, the company noted in the filing.
Samvardhana Motherson International Limited is involved in Design, Engineering, Manufacturing, Assembly and Logistics (D.E.M.A.L.) for the automotive and other sectors. Established in 1986, the company boasts a diverse global customer base that includes nearly all leading automobile manufacturers worldwide. The company has over 425 facilities across 47 countries on five continents.
The company has diversified to non-automotive businesses, including technology and industrial solutions, health & medical, aerospace and logistics. SAMIL is currently the largest auto ancillary in India and is ranked among the top 15 automotive suppliers worldwide, the company added.