Mumbai: Supreme Nonwovens Group (“Supreme”), India’s largest and most diversified nonwovens group, through its majority owned Thailand subsidiary Supreme Feltol Thailand Co. Ltd. (“Company”), recently announced the acquisition of automotive interior trims and NVH business of Futuris Automotive (“Futuris”). Futuris is a subsidiary of Adient Plc, USA.

Supreme Feltol Thailand Co. Ltd.  is a JV between Supreme Treon Pvt. Ltd. and Feltol Thailand Manufacturing Company Ltd. Supreme Feltol began JIT deliveries from it’s green field plant located at Eastern Seaboard to Ford Motors and Auto Alliance Thailand in September 2019. Post-acquisition of Futuris’ business, the Company will have a second plant in Eastern Seaboard and employ 230 staff and workmen across its two manufacturing plants in Thailand.

Mr. Amit Kavrie, Managing Director, Supreme, said: “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.”

He further added: “The timing is perfect as the automotive industry is going through a major technological shift. Our strong R&D base, next generation nonwoven 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 OEM’s in Thailand and South East Asia. We expect the Thailand subsidiary alone to generate annual sales revenue of USD 50million within the next five years.”

The overseas investments and expansions augur well for Supreme Group to continue growing even while the Indian automotive market remains subdued.