Balda AG, listed in the SDax segment on the Frankfurt Stock Exchange, has sold its direct and indirect shareholdings in Balda Motherson Solution Ltd. amounting to 60 percent to Motherson Sumi Systems Limited.
The parties agreed not to disclose the purchase price. The joint venture based in south Indian Chennai did not achieve the objectives initially set for the production of plastic assemblies for leading mobile phone manufacturers.
After careful consideration of the opportunities and risks Balda AG sees no improving market prospects for the production site in the future, particularly because high investments would be necessary. By ending the commitment in India Balda AG has reached another milestone in the restructuring, so the company.