IAC (International Automotive Components) Group Business Report FY ending Dec. 31, 2010 - FY ended Dec. 31, 2011

Business Highlights

Recent Years

Joint Venture

-In 2011, the Company announced its agreement to form two joint ventures in Malaysia and Thailand with Malaysia-based APM Automotive Holdings Berhad (APM), a supplier of automotive interior products. The joint ventures will be IAC Group's first investments in the ASEAN region. In Malaysia, the joint venture will be called APM IAC Automotive Systems Sdn Bhd, in which APM will hold the majority 60% equity interest. This joint venture will be supported by existing APM manufacturing facilities in the region. In Thailand, the joint venture will be called IAC APM Automotive Systems Ltd., in which IAC Group will hold the majority 60% equity interest. The joint ventures will offer design, engineering and manufacturing for a wide range of vehicle interior components and systems, including instrument panels, door panels, floor consoles, interior trim, flooring and acoustics, overhead systems and package trays, as well as exterior components, such as fascias and rocker panels. (From a press release on November 1, 2011)

-In 2011, the Company announced it has formed a joint venture with a Texas, U.S.-based Reyes Holdings, LLP. The new company, Reyes Automotive Group II (RAG II), was established in San-Antonio, Texas, with IAC having 49 percent ownership and Reyes holding 51 percent. The joint venture will supply injection and blow molded interior trim components and assembly services for the Toyota "Tundra" and "Tacoma" built at Toyota Motor Manufacturing, Texas, Inc. (TMMTX). The 90,000-square-foot facility has nearly 200 employees. (From a press release on September 6, 2011)

Recent Development Outside Luxembourg

-In 2011, the Company has introduced a new blow foaming process in North America for HVAC duct components to be featured on a Model Year 2014 vehicle. The process is licensed from JSP Corporation, a Japan-based supplier of foamed plastics. The Company's manufacturing facility in Madisonville, Kentucky will provide air ducts, and annual volumes are expected to exceed 100,000 units. (From a press release on June 6, 2011)


-In 2011, the Company announced the acquisition of the automotive assets of New Delhi based Multivac India Private Limited. Multivac is a supplier of vehicle headliners, instrument panels, interior trim and door panels to vehicle manufacturers including Volkswagen, Maruti Suzuki, Volvo, Mahindra & Mahindra and others. The Company is presently constructing a second manufacturing operation in Chakan, which will be located in the Mahindra Supplier Park. (From a press release on January 12, 2011)

-In 2010, the Company announced that it will acquire automotive interior component supplier AMPRO Molding, LLC, based in Anniston, Alabama, U.S. The acquisition includes a 157,000 square feet (approx. 14,585 m2) manufacturing facility located on an 11-acre (approx. 44,515 m2) site. AMPRO is located in close proximity to OEM customers based in the southeast region of the U.S. (From a press release on November 22, 2010)


-In June 2011, the Company announced that it has been selected by Ford as a supplier of Ford's Aligned Business Framework (ABF), a collection of suppliers for closer collaboration and a long-term relationship. The Company currently supplies an array of interior components and systems across multiple Ford product lines. (From a press release on June 14, 2011)

Major Awards

Year Award Company
2010 Automotive News PACE Award Finalist -
2010 Q1 Award Ford


R&D Facilities

-The Company holds design, technical and commercial centers around the world:
  • Europe: 10 facilities
  • North America: 6 facilities
  • Asia: 6 facilities

Investment Activities

Investment Outside Luxembourg

-In 2011, the Company announced that it will invest EUR 58 million to build a new manufacturing facility in Bals, Romania. The 15,000 square-meter facility will produce instrument panels, door panels, headliners and various other interior trim components to support Ford Motor Company's production of two new passenger cars at its plant in Craiova, Romania. The Company intends to employ approximately 400 personnel when fully operational. The Romanian Government supported this investment project with state aid worth EUR 17 million.  (From a press release on January 24, 2011)

-In March 2011, the Company announced the opening of its new 118,000-square-foot manufacturing facility in Chakan, India. The facility is located in the Mahindra Supplier Park. The Chakan facility represents a total investment of approximately USD 15 million and will employ more than 200 individuals. The facility marks the Company's second manufacturing operation in Chakan since it opened the first plant in early 2009. The new Chakan plant will produce instrument panels, floor consoles, interior and exterior garnish trim, air distribution vents, door panels and others, supplying them to Mahindra and Mahindra Navistar vehicles. (From a press release on March 30, 2011)