IAC (International Automotive Components Group) Inc Business Report FY2010

Business Highlights

Recent Years


The Group has greatly expanded its operations through the following acquisition projects;
-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)

-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

-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.


-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)


IAC North America
Year Award Company Subsidiary/Facility/Products
2007 Q1 Award Ford Hermosillo,
2007 Supplier Partnership Ride & Drive Award Chrysler Wauseon,
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,
2005 Excellence in Quality Award Toyota Port Huron

Investment Activities

Investment Outside Luxembourg

-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)