Automotive parts maker Tata AutoComp Systems on Monday said it will acquire International Automotive Components Group Sweden AB (IAC Sweden), a manufacturer of interior systems and components. he company, however, did not disclose any financial details.
“The proposed acquisition reinforces Tata AutoComp’s presence in Sweden and enhances the company’s relationships with key European original equipment manufacturers (OEMs) in both the passenger vehicle and commercial vehicle segments, further expanding its global footprint,” the company said in a statement.
The transaction is subject to European regulatory approvals.
IAC Sweden, which has a turnover of around $800 million, had filed for bankruptcy in June 2024 and was under a court-appointed administrator at the time of the acquisition. It is one of the largest bankruptcies in Sweden, with two companies competing to take over the business.
“The acquisition aligns with the firm’s long-term vision of expanding into global markets and reinforcing relationships with European OEMs,” said Arvind Goel, vice-chairman, Tata AutoComp Systems.
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Manoj Kolhatkar, MD and CEO of Tata AutoComp Systems, described the acquisition as a “pivotal step” in the company’s journey to enhance its global presence and technology portfolio.
IAC Sweden is a leading supplier for Swedish automobile manufacturers, including Volvo Trucks, Volvo Cars, and Scania. The company specialises in vehicle interiors, producing items such as door panels and door trims. IAC Sweden operates three factories located in Gothenburg, Skara, and Fargelanda with 1,500 employees with expertise in plastic molding, high-precision painting and assembly of interior components.
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