Auto component maker Motherson Sumi Systems has decided to acquire the stake of its partner Wilhelm Pudenz and Wickmann Werke in the joint venture firm Motherson Pudenz Wickmann.

The company informed in a communiqué that its board has approved the purchase of shareholding held by Germany-based Wilhelm Pudenz and Wickmann Werke in Motherson Pundenz Wickmann.

Motherson Pudenz Wickmann (MPWL) is a joint venture between Germany's Wickmann Werke GmbH and Motherson Sumi Systems.

Post acquisition, MPWL would become the wholly-owned subsidiary of Motherson Sumi Systems.

Recently, Motherson Sumi Systems Ltd (MSSL), the flagship company of Samvardhana Motherson Group, has reported total consolidated sales of Rs 2,596 crore for FY09, an increase of 28% as compared to Rs 2,028 crore in FY08.

Apart from announcement of results, the board of directors has recommended a dividend of 135%.