Mumbai, March 26 -- Tata AutoComp Systems has announced its acquisition of International Automotive Components Group Sweden AB (IAC Sweden), a key manufacturer of vehicle interior systems and components. The acquisition strengthens Tata AutoComp's presence in Europe and deepens its collaboration with leading European original equipment manufacturers (OEMs).
The key entities involved are:
Tata AutoComp Systems - Indian automotive components manufacturer IAC Sweden - Supplier of vehicle interiors to major Swedish automakers IAC Sweden, with an annual turnover of approximately $800 million, had filed for bankruptcy in June 2024 and was under a court-appointed administrator. The deal is subject to European regulatory approvals.
Strategic Significance Strengthens Tata AutoComp's European footprint Enhances partnerships with Volvo Trucks, Volvo Cars, and Scania Expands capabilities in plastic moulding, high-precision painting, and interior assembly
Arvind Goel, Vice-Chairman, Tata AutoComp, stated, "This acquisition aligns with our long-term vision to expand globally and fortify relationships with European OEMs." Manoj Kolhatkar, MD & CEO, Tata AutoComp, described the move as a "pivotal step" in enhancing the company's global presence and technology portfolio.
IAC Sweden operates three factories in Gothenburg, Skara, and Fargelanda, employing 1,500 specialists in interior component manufacturing. With this acquisition, Tata AutoComp is set to reinforce its market position in Europe's automotive supply chain, further cementing its role as a global industry leader.
Published by HT Digital Content Services with permission from Construction World.