TATA AutoComp Systems Ltd has said it has acquired International Automotive Components Group Sweden AB (IAC Sweden) to enhance its presence in the European automotive market. It is hoped that the acquisition will help TATA AutoComp to build stronger relationships with key European Original Equipment Manufacturers (OEMs) in both the passenger and commercial vehicle markets.
The financial details of the acquisition have not been revealed yet, but IAC Sweden is one of the leading companies in the automotive interior systems industry with the revenue of about $800 million. The acquisition will enhance TATA AutoComp’s position as one of India’s biggest automotive component makers and also help achieve its growth plan in global markets.
TATA AutoComp Vice Chairman Arvind Goel said that this acquisition is in line with the company’s long-term global growth strategy and its efforts to forge stronger ties with European OEMs. He pointed out that IAC Sweden has a long history of providing top-notch interior solutions and the two companies will be able to achieve much more together in terms of innovation and excellence in the automotive sector.
The acquisition, which has not yet been finalized due to the need for European regulatory approval, offers strong synergy possibilities. It will enable TATA AutoComp to use better manufacturing capabilities, the latest technology, and existing customer relationships in the high-end automotive sector.
This paper aims to integrate IAC Sweden into TATA AutoComp’s operations in order to provide sustainable, high quality and customer focused solutions across several countries. This strategic move also strengthens the company’s determination to lead the automotive components industry globally.
