Tata AutoComp Accelerates Global Growth with IAC Group Acquisition

Tata AutoComp Systems has signed a pact to fully acquire Slovakia-based IAC Group, aiming to strengthen its European market presence. The acquisition is expected to bolster the company's capabilities and support its growth strategy, aligning with its vision to be a leading partner for global OEMs.

Tata AutoComp Systems, a leading auto components manufacturer, announced on Thursday that it has signed an agreement to fully acquire Slovakia-based IAC Group. However, financial details of this transaction remain undisclosed.

The acquisition, facilitated through Tata AutoComp's UK subsidiary Artifex Interior Systems Limited, entails gaining 100 percent ownership of IAC Group's share capital. According to Tata AutoComp's statement, this strategic move aims to bolster the company's capabilities and serve as a foundation for expanded operations across the UK and EU markets.

The acquisition aligns with Tata AutoComp's vision to become a preferred partner for global Original Equipment Manufacturers (OEMs). Completion of this deal awaits regulatory approvals and marks a significant milestone in Tata AutoComp's ambitious global growth strategy, said Vice-Chairman Arvind Goel.

(With inputs from agencies.)