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Insolvency administrator Joachim Exner sold the Dr. Schneider Unternehmensgruppe, an automotive interior parts supplier, to the Samvardhana Motherson Group. All seven sites in five countries and over 4,800 jobs are preserved.
Samvardhana Motherson International, through its subsidiary SMRPBV, agreed to acquire assets and shares of Germany's Dr Schneider Group from insolvency administrator for an enterprise value of €118.3 million. Dr Schneider makes interior polymer components for premium vehicles.