IAC (International Automotive Components Group) Inc Business Report FY2010
Business Highlights
Recent Years
<2007>
-In Nov. 2007, IAC Group North America completed the acquisition of Collins and Aikman (C&A) 's manufacturing facility in Hermosillo, Mexico for 17 million USD. Built in 2004, the Hermosillo facility had annual revenue of more than 300 million USD in 2006. (From a press release on Nov. 7, 2007)
-In Oct. 2007, IAC Group North America completed the acquisition of the soft trim division from Collins and Aikman (C&A). The acquisition of C&A's soft trim division includes 16 facilities in North America that manufacture carpeting, molded flooring products, dash insulators and other related interior components. Additionally, it concluded its acquisition of a C&A manufacturing facility in Saltillo, Mexico. This facility manufactures injection molded components, including instrument panels, doors, fascias and interior trim. The acquisition generate a total of 600 million USD in annual sales. The acquisition includes a noise, vibration and harshness (NVH) technical center. (From a press release on Oct. 12, 2007)
<2006>
-In Dec. 2006, IAC North America announced a definitive agreement to acquire Lear Corporation's North American Interior Systems Division. Upon closing, Lear will transfer all of the assets of its North American interiors business to IAC NA. The operations being acquired by IAC NA include 26 plants in USA, Canada and Mexico with revenues of approximately 2.5 billion USD. This transaction is expected to close in the first quarter of 2007. (From a press release on Dec. 1, 2006)
-In Sep. 2006, the Group announced the acquisition of Mitsuboshi Belting Kaseihin Co., Ltd. (MBK) from Mitsubishi Belting, Ltd.. MBK employs 742 people in 2 Komaki City Factory and 1 factory in Yokosuka City. MBK supplies instrument panels, cockpits and other plastic products for automotive interiors to all of the Japanese automobile companies. (From a press release on Sep. 12, 2006)
-In Jul. 2006, the Group announced a definitive agreement to acquire substantially all of Lear Corporation's European interior systems division for a 34 percent equity interest in the Group. (From a press release on Jul. 19, 2006)
-In Apr. 2006, IAC Group Brazil completed the acquisition of a controlling stake in the Brazilian operations of Collins & Aikman. (From a press release on Apr. 13, 2006)
-In Mar. 2006, the Group completed the acquisition of certain United Kingdom, German, Dutch, Belgian, Spanish and Swedish businesses of Collins & Aikman Europe. (From a press release on Mar. 2, 2006)
-In Jun. 2007, Mitsuboshi Kaseihin Co., Ltd. (MBK) of Japan and Tong Yang Industry of Taiwan jointly established Wuhan Xiangxing Automobile Parts Co., Ltd. in Hubei Province to manufacture instrument panels.
Acquisition
The Group has greatly expanded its operations through the following acquisition projects;<2007>
-In Nov. 2007, IAC Group North America completed the acquisition of Collins and Aikman (C&A) 's manufacturing facility in Hermosillo, Mexico for 17 million USD. Built in 2004, the Hermosillo facility had annual revenue of more than 300 million USD in 2006. (From a press release on Nov. 7, 2007)
-In Oct. 2007, IAC Group North America completed the acquisition of the soft trim division from Collins and Aikman (C&A). The acquisition of C&A's soft trim division includes 16 facilities in North America that manufacture carpeting, molded flooring products, dash insulators and other related interior components. Additionally, it concluded its acquisition of a C&A manufacturing facility in Saltillo, Mexico. This facility manufactures injection molded components, including instrument panels, doors, fascias and interior trim. The acquisition generate a total of 600 million USD in annual sales. The acquisition includes a noise, vibration and harshness (NVH) technical center. (From a press release on Oct. 12, 2007)
<2006>
-In Dec. 2006, IAC North America announced a definitive agreement to acquire Lear Corporation's North American Interior Systems Division. Upon closing, Lear will transfer all of the assets of its North American interiors business to IAC NA. The operations being acquired by IAC NA include 26 plants in USA, Canada and Mexico with revenues of approximately 2.5 billion USD. This transaction is expected to close in the first quarter of 2007. (From a press release on Dec. 1, 2006)
-In Sep. 2006, the Group announced the acquisition of Mitsuboshi Belting Kaseihin Co., Ltd. (MBK) from Mitsubishi Belting, Ltd.. MBK employs 742 people in 2 Komaki City Factory and 1 factory in Yokosuka City. MBK supplies instrument panels, cockpits and other plastic products for automotive interiors to all of the Japanese automobile companies. (From a press release on Sep. 12, 2006)
-In Jul. 2006, the Group announced a definitive agreement to acquire substantially all of Lear Corporation's European interior systems division for a 34 percent equity interest in the Group. (From a press release on Jul. 19, 2006)
-In Apr. 2006, IAC Group Brazil completed the acquisition of a controlling stake in the Brazilian operations of Collins & Aikman. (From a press release on Apr. 13, 2006)
-In Mar. 2006, the Group completed the acquisition of certain United Kingdom, German, Dutch, Belgian, Spanish and Swedish businesses of Collins & Aikman Europe. (From a press release on Mar. 2, 2006)
Joint Venture
<China>-In Jun. 2007, Mitsuboshi Kaseihin Co., Ltd. (MBK) of Japan and Tong Yang Industry of Taiwan jointly established Wuhan Xiangxing Automobile Parts Co., Ltd. in Hubei Province to manufacture instrument panels.
Contracts
-In Dec. 2007, IAC was awarded two new contracts to supply instrument panels to a future Mahindra & Mahindra (M&M) utility vehicle and a Mahindra International Ltd. (MIL) medium/heavy duty truck program. (From a press release on Dec. 6, 2007)Awards
IAC North America| Year | Award | Company | Subsidiary/Facility/Products |
| 2007 | Q1 Award | Ford | Hermosillo, Springfield |
| 2007 | Supplier Partnership Ride & Drive Award | Chrysler | Wauseon, Greencastle, Strasburg |
| 2007 | Zero Defect Award | Nissan | Carlisle |
| 2007 | Quality Performance Award | Honda | Old Fort |
| 2007 | Supplier Performance Award - Service Parts | Honda | Mendon |
| 2006 | Performance Excellence Award for ND I/P | Chrysler | Warren |
| 2006 | Outstanding Achievements in Minority Business Development | Toyota | San Antonio |
| 2006 | Certificate of Achievement in Quality Performance | Toyota | Alma |
| 2006 | Certificate of Achievement in Quality Performance | Toyota | Port Huron |
| 2006 | Certificate of Achievement in Delivery Performance | Toyota | Port Huron |
| 2005-06 | 100% On Time Delivery | GM | Greenville |
| 2005 | Service Parts Award 100% On Time Delivery | GM | Greencastle |
| 2005 | Atlanta Plant Manager's Top Supplier Award | Ford | Fremont |
| 2005 | Gold Commodity Award, Door Panel | Chrysler | Iowa City, Greencastle |
| 2005 | Excellence in Quality Award | Toyota | Port Huron |
Investment Activities
Investment Outside Luxembourg
<Sweden>-In 2007, IAC Group AB is undertaking one of the Swedish automotive component industry's greatest investments in recent years. It will invest in a new factory in Goteborg worth 25 million Euro. (From a press release on Oct. 4, 2007)