Tata AutoComp Systems Limited has completed the acquisition of International Automotive Components Group Sweden AB’s operations, expanding its presence across Europe. The acquired business, which reports an annual turnover of about USD 800 million, has been rebranded as Artifex Systems AB. The transaction aims to strengthen Tata AutoComp’s engagement with European passenger and commercial vehicle manufacturers.
The company intends to integrate Artifex Systems AB, Artifex Slovakia, and Artifex Interior Systems under a unified identity.
Artifex Systems AB operates three production facilities in Låssby, Färgelanda, and Skara, employing about 1,800 people. The business supplies interior and exterior automotive systems to European manufacturers including Volvo Cars, Volvo Trucks, and Scania. “We are excited to begin this new chapter as part of the Tata AutoComp family, opening new opportunities for growth and collaboration,” said Anders Ericson, Vice President – Operations, Artifex Systems AB.
According to a company statement, the acquisition aligns with its long-term strategy to broaden its international footprint. “We are delighted to welcome IAC Sweden, now Artifex Systems AB, into the Tata AutoComp family. This transaction aligns with our long-term vision of strengthening our global presence and deepening our relationships with European OEMs,” said Manoj Kolhatkar, Managing Director and Chief Executive Officer of Tata AutoComp Systems.
Diplomatic officials from India and Sweden noted the industrial significance of the transaction. “I am pleased to see IAC Sweden, now Artifex Systems AB, becoming part of Tata AutoComp. I am confident that under Tata AutoComp, Artifex Systems AB will evolve and grow, driving economic growth in the region,” said Anurag Bhushan, Ambassador of India to Sweden. “The revitalisation of IAC Sweden (now Artifex Systems AB) by Tata AutoComp will ensure continuity for Swedish customers, safeguard employment, and strengthen manufacturing capability,” said Jan Thesleff, Ambassador of Sweden to India.
Tata AutoComp Systems operates 21 business divisions, including 11 joint ventures with international technology partners. Its network comprises 66 manufacturing facilities across India, North America, Latin America, Europe, and China. The company’s products include interior and exterior components, heating, ventilation and air conditioning systems, seating products, and electric vehicle technologies such as battery packs and thermal management systems.
