Tata AutoComp acquires IAC Sweden to grow footprint in Europe

Indian automotive components maker Tata AutoComp Systems Ltd has acquired International Automotive Components Group Sweden AB (IAC Sweden) in what helps the former grow its footprint in Europe and widen its network of original equipment makers (OEMs).

Tata AutoComp plans to leverage IAC Sweden’s advanced manufacturing capabilities, cutting-edge technology, and well-established customer relations in the premium automotive sector.

“With a turnover of approximately $800 million, this strategic move strengthens our presence in Europe’s automotive sector and enhances our relationships with Volvo Cars, Volvo Trucks, Scania, and other key OEMs,” Tata AutoComp said in a LinkedIn post.

Arvind Goel, vice chairman of Tata AutoComp Systems, said, “This acquisition aligns with our long-term vision of expanding global markets and strengthening our relations with European OEMs. IAC Sweden has a strong legacy of delivering high-quality interior solutions, and we look forward to working together to drive innovation and excellence in the automotive industry.”

Manoj Kolhatkar, managing director-chief executive officer of Tata AutoComp Systems, said, “This acquisition is a private step in Tata AutoComp’s journey to enhance our global presence and technology portfolio.”

Tata AutoComp Systems, established in 1995, provides a diverse range of products, such as automotive interior and exterior plastics, composites and sheet metal stampings, engine cooling solutions, automotive batteries, rear view mirrors, and advanced electronic solutions, including advanced driver assistance systems (ADAS) and telematics.

It operates 61 manufacturing facilities across India, North America, Latin America, Europe, and China.

The company has established nine joint ventures with leading global auto component manufacturers, enhancing its technological capabilities and market reach. The company aims to become a $3 billion entity by 2025.

IAC Sweden has been part of the IAC Group since 2006. It operates three production sites in Sweden—Skara, Färgelanda, and Torslanda—and manufactures high-quality interior components such as instrument panels, pillar trims, and other plastic-molded parts for premium automotive brands.

In June last year, IAC Sweden declared bankruptcy and was managed by a Swedish court-appointed administrator.