Tata AutoComp Systems Ltd has announced its plan to acquire International Automotive Components Group Sweden AB (IAC Sweden), a supplier of automotive interior systems. IAC Sweden has an estimated annual turnover of USD 800 million. The acquisition is subject to regulatory approval within the European Union.
The acquisition is aimed at strengthening Tata AutoComp’s presence in Europe and expanding its ties with original equipment manufacturers (OEMs) in the passenger and commercial vehicle sectors. IAC Sweden’s integration is expected to provide operational and technological synergies, giving Tata AutoComp access to advanced manufacturing capabilities and an established customer base in the European premium automotive market.
Arvind Goel, Vice Chairman of Tata AutoComp Systems, stated that integrating IAC Sweden aligns with the company’s long-term goal of expanding in global markets. Manoj Kolhatkar, Managing Director and CEO, added that the acquisition would enhance the company’s technological capabilities while reinforcing its position in the European automotive sector.
The move is part of a broader trend among Indian automotive companies pursuing strategic acquisitions to expand their presence in mature international markets.