Tata AutoComp Systems (TACO) has acquired an 80% majority stake in Artifex Interior Systems, previously known as IAC UK. The stake was purchased from Jaguar Land Rover Ventures, a subsidiary of Jaguar Land Rover Automotive plc and part of Tata Motors. This marks TACO’s second acquisition in Europe.
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With this acquisition, TACO aims to strengthen its presence in Europe and establish itself as an integral part of the Jaguar Land Rover supply chain. Arvind Goel, vice chairman of Tata AutoComp, stated that Artifex’s manufacturing capabilities and established customer relationships will enhance their market presence, allowing them to deliver differentiated solutions.
Artifex operates three manufacturing facilities in Elmdon, Scunthorpe, and Halewood, employing 1,800 professionals.
The company supplies its products to several key players in the passenger vehicle segment, including Jaguar Land Rover, BMW Mini among others.
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Tata AutoComp had earlier this month acquired International Automotive Components Group Sweden AB, a manufacturer of interior systems and components, with a turnover of $ 800 million. This company supplies products to Volvo Trucks, Volvo Cars, and Scania, but IAC Sweden declared bankruptcy in June 2024.
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