Tata AutoComp acquires IAC Sweden
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Hyderabad: Tata AutoComp Systems Ltd., an automotive components manufacturer, has completed the acquisition of the assets of International Automotive Components Group Sweden AB (IAC Sweden), a European automotive component manufacturer. IAC Sweden has an annual turnover of approximately $800 million. Under the Tata AutoComp Systems Group, the entity will be rebranded and operate as Artifex Systems AB.
Arvind Goel, Vice Chairman, Tata AutoComp, said:“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.”
AB brings with it advanced manufacturing capabilities and a highly skilled workforce with deep expertise ".
