IAC (International Automotive Components) Group Business Report FY ending Dec. 31, 2008 - FY ended Dec. 31, 2009

Business Highlights

Recent Years


-In Jun. 2009, the Group announced that it has executed a definitive agreement to acquire certain operations of Stankiewicz GmbH and Gimotive GmbH (collectively Stankiewicz). Stankiewicz, a German supplier of insulations, dampening products, sound absorbers, floor coverings, filed for insolvency in Dec. 2008. Under this agreement, the Group will acquire 9 manufacturing sites in Germany, Belgium, Czech Republic and Poland. (From a press release on Jun. 22, 2009)

-In Aug. 2008, the Group announced the completion of the purchase of Visteon's Halewood UK facility.The Halewood facility is dedicated to the assembly and sequencing of instrument panels, cockpits and consoles to Jaguar and Land Rover Halewood operations. The facility has an approximate annual turnover of 150 million USD. (From a press release on Aug. 29, 2008)


IAC North America
Year Award Company Subsidiary/Facility/Products
2009 Challenging Spirit Award Honda -
2009 Productivity Improvement Award Honda -
2009 Regional Supplier Quality Award Finalist Renault Nissan Toluca, Monterrey
2009 Supplier of The Year GM -
2009 Delivery Performance and Productivity Improvement Award Honda -
2008 Supplier of the Year GM -
2008 TEMA Technology & Development Award Toyota -

Investment Activities

Investment Outside Luxembourg

-In Feb. 2009, the Group held a dedication ceremony for the new manufacturing facility in Chongqing, China. The production of vehicle interior components and systems for Chinese domestic market passenger cars, including instrument panels and door panel assemblies, has already started in Oct. 2008. The Company was awarded contract to supply interior components to CFMA - Changan Ford Mazda Automobile Co., Ltd. - which will be supported from this new location. (From a press release on Feb. 18, 2009)

-In 2009, Plascar, the South American unit of the Company, announced that it opened a plant in Pindamonhangaba, Sao Paulo State, Brazil. The facility will produce internal and external finishing of vehicles such as instrument panels and bumpers. The new site is designed to cater initially to automakers located in the region as well as in Rio de Janeiro State. (From a press release on September 21, 2009)

-In Sep. 2008, the Group broke ground during a ceremony in Pune, India where construction will begin for a manufacturing and engineering operation exceeding 150,000 square feet. The new its facility, which will represent a capital investment of approximately 25 million USD, will manufacture vehicle interior components and systems, including instrument panels, cockpits and door assemblies for Indian domestic passenger cars and medium/heavy duty trucks. The manufacturing and engineering operation is scheduled to be completed by 3Q of 2009, at which time it will immediately begin supporting development and production programs for customers. The Group was awarded several few contracts to supply interior and exterior components a future Mahindra & Mahindra utility vehicle, a Mahindra Navistar Automotive Ltd. (MNAL) medium/heavy-duty truck program and a Volkswagen "Polo" small car program. (From a press release on Sep. 12, 2008)