India’s Motherson Sumi Systems has signed an agreement to buy the wiring-harness division of US-based Stoneridge Inc for $65.7 million.

The acquisition covers manufacturing facilities in Indiana, an engineering and administrative centre in Ohio and three plants in Mexico. Subject to regulatory approvals, the transaction is expected to be completed during the third quarter of 2014.

Stoneridge president and CEO John Corey said the deal with Motherson will “increase the vertical and global integration of the business and provide additional global capabilities to service customers’ requirements. With the sale of our wiring business, we can now increase our focus on other business segments that are technology-driven and offer greater opportunities to provide higher value to our shareholders.”