Inteva Products acquires selected European assets from IAC Group

Automotive supplier Inteva Products has acquired circumstantial European operations of International Automotive Components (IAC) Group.

The institution said it expects the woody to broaden its planetary engineering capabilities and reenforce its presumption successful the automotive interiors segment.

As a effect of the acquisition, Inteva’s planetary workforce increases to 12,000 employees, operating crossed 37 sites worldwide.

The concern volition proceed to tally engineering and method centres successful North America, Europe and Asia.

These locations supply customers with design, development, integration, prototyping, investigating and validation services.

Gerard Roose, president and CEO of Inteva Products, said: “We’re bringing unneurotic 2 exceptional teams with a shared committedness to innovation, excellence, and lawsuit success.

“Together, we’re stronger, much capable, and amended positioned to signifier the aboriginal of the automotive industry. We couldn’t beryllium much excited astir what lies ahead.”

Inteva structures its portfolio astir 4 halfway merchandise lines: closure systems, interior systems, latches, and motors and electronics. The institution supplies engineered systems and components to conveyance manufacturers globally.

Kevin Baird, CEO of IAC Group, said: “Inteva Products is the close spouse to physique upon this strength. They stock our committedness of innovation, lawsuit occurrence and wide excellence.

“This determination creates breathtaking aboriginal opportunities for our teams, arsenic good arsenic our customers and different stakeholders.”

IAC Group, based successful Luxembourg, is simply a planetary supplier of automotive components and systems, including instrumentality panels, console systems, doorway panels, headliners and overhead systems for automakers worldwide.

The institution employs astir 7,500 radical and is simply a billion‑dollar shaper with 15 sites, including 12 accumulation facilities successful Mexico and the US.

"Inteva Products acquires selected European assets from IAC Group" was primitively created and published by Just Auto, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.