Tata AutoComp Systems, an automotive components manufacturer, said on Monday that it would acquire International Automotive Components Group Sweden AB (IAC Sweden) for an undisclosed sum.
The 2024 revenue of IAC Sweden, which manufactures interior systems and components for the automotive industry, was around $800 million (Rs 6,841.6 crore).It had declared bankruptcy in June 2024 and has since been managed by a Swedish court-appointed administrator.Although the deal size was not revealed, the firm said this acquisition is a part of Tata AutoComp's strategy to expand global footprint and strengthen ties with European original equipment manufacturers.
The acquisition is undergoing European regulatory nod, expected to be completed within two-three months. It will increase Tata AutoComp's presence in Sweden and the European automotive sector.With IAC Sweden, Tata AutoComp will gain access to manufacturing capabilities, technology, and customer relationships in the premium automotive space.
The integration will add to Tata AutoComp's position as one of India's largest automotive component manufacturers.
By incorporating IAC Sweden's operations, Tata AutoComp plans to expand production capacity and introduce new product lines for international and Indian markets.
The company plans to use its plants in India, China, and Sweden to offer interior design solutions tailored for regional requirements.
Anjali Singh, Business Standard
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