IAC (International Automotive Components) Group

Company Profile

Business Overview

-The Company is a leading global supplier of interior systems and components such as instrument panels, consoles and door panels. It also develops and provides components such as bumper fascias and exterior trim.

-The Group was formed in October 2005 by WL Ross & Co., LLC and Franklin Mutual Advisers, LLC to acquire the European assets of Collins & Aikman. In October 2006, the Company expanded by purchasing Lear's European Interior business.

-The Company's operations are segmented into three geographic regions:

• Europe and South Africa
• North America
• Asia

-In March 2023, Lumax Auto Technologies Limited acquired 75% of the share capital in Company subsidiary IAC International Automotive India Private Limited (IAC India) through its wholly owned subsidiary, Lumax Integrated Ventures Private Limited. As a result, IAC India is a step-down subsidiary of Lumax Auto and subsidiary of Lumax Integrated Ventures Private Limited subsidiary. (Based on Lumax Auto Technologies Limited's stock exchange notification on March 10, 2023)

-The Company plans to sell its Chinese operations to Ningbo Huaxiang Electronic Co., Ltd. (NBHX) for around CNY 600 million. As part of the transaction, the Company will divest 100% equity in IAC (Shanghai) Automotive Components Technology Co., Ltd., Shanghai IAC Automotive Interior Trim Co., Ltd., IAC Group (China) Co., Ltd., IAC Automotive Parts (Changshu) Co., Ltd., and IAC Automotive Components (Tianjin) Co., Ltd., as well as 75% equity in Wuhan Xiangxing Automotive Parts Co., Ltd. (IAC China). These operations focus on developing and manufacturing automotive interior trims such as cockpit modules, instrument panels, center floor tunnels, door panels, and columns. They serve customers such as German luxury automakers, leading Chinese New Energy Vehicle manufacturers, and well-known European and US automakers. (From an NBHX press release dated June 26, 2024)

Competitors

-Adient
-Autoneum
-Faurecia
-Grupo Antolin
-HP Pelzer
-Magna

Shareholders

-The Company is owned by multiple private equity firms. WL Ross & Co. LLC, affiliates of Franklin Mutual Advisers, LLC, is a majority shareholder. Gamut Capital Management LP owns a minority equity interest in the Company.

Products

Door trim systems
-Door trims
-Side panels
-Decorative vinyl and cloth-covered inserts
-Appliques
-Armrests
-Speaker grilles
-Switch plates
-Map pockets
-Energy-absorbing safety countermeasures
-Acoustic insulation technologies
-Assembly and sequencing for complete door systems

Console systems 
-Center consoles
-Glove boxes
-Cup holders
-Appliques and other decorative trim
-Armrests
-Microbe abatement and cleanable surfaces developed through addition of protective components to resins prior to molding

Instrument panel and cockpit systems
-Instrument panels
-Dash insulators
-Rear package trays
-Floor mats and carpeting
-Heat shields
-Trunk trim
-Illuminated Surfaces with ambient backlit surfaces across multiple components
-Smart Surface technology with soft or hard surface applications
-Injection Molded Soft Skin technology for consistent skin thickness without heavy corners

Overhead systems
-Headliners
-Overhead consoles
-Grab handles
-Visors
-Coat hooks
-Air distribution ducts
-Energy management brackets

Other interior components
-Cargo management systems
-Decorative trim
-Load floors
-Seat panels
-Audio Glass sustainable speaker system developed with recycled materials and additive on-demand technologies

Brand innovations
-Coreback process introducing chemical foaming agent to resin for increased strength and reduced weight
-FastKast process using PVC and TPU to improve quality and environmental sustainability and reduce cycle times
-FiberFrame environmentally sustainable lightweight natural fiber sunroof frame
-HybridFleece Molding process combining pressing of thermoplastic-mixed fiber fleece with molding of stiffening ribs into a one-step process
-Safe-TEC injection molded module with improved side-impact protection and performance
-SmartFoil interior trim with improved haptic response, reduced weight and improved durability
-ThinFoam process to enable decreased instrument panel thickness from 8-10 millimeters to 3 millimeters
-TwinFoil dual foil surfaces on single component
-TwinSurface dual surfaces on single component
-Hybrid Molding process combining compression and injection molding to reduce weight and improve sustainability
-Intelligent Surface Inserts seamless surface technology integrating touch features with ambient backlighting
-FreeForm technology that enables grain and stitch lines in combination with backlighting details for the interior
-Monomaterial components made from one-step compression molding and laminating process for fully recyclable construction
-Natural fiber materials for lightweight, renewable reinforcement to strengthen plastics used in headliners, doors, instrument panels and consoles

History

Supplemental Information 1

>>>Business Report FY ending Dec. 31, 2007
>>>Business Report FY ending Dec. 31, 2008 to FY ending Dec. 31, 2009
>>>Business Report FY ending Dec. 31, 2010 to FY ending Dec. 31, 2011
>>>Business Report FY ending Dec. 31, 2012 to FY ending Dec. 31, 2014

Note: A figure in brackets ( ) indicates a loss