Automotive supplier IAC forms joint venture in South Africa

By Rhoda Miel
News Editor

Published: July 9, 2013 1:09 pm ET
Updated: July 9, 2013 1:10 pm ET

Related to this story

Topics Automotive, Injection Molding, Joint Venture
Companies & Associations International Automotive Components Group North America LLC

International Automotive Components Group is entering the auto market in South Africa through a joint venture that will supply parts to existing vehicle production.

IAC, with global operations based in Luxembourg, will work with Feltex Automotive of Durban, South Africa, in the venture. IAC will hold 51 percent of the venture and provide design, engineering and manufacturing expertise for interior components while Feltex will supply production and processing capacity, the companies said in a July 9 news release.

IAC-Feltex Pty Ltd. will initially begin at the Feltex plant in East London, South Africa, with production now supporting assembly plants making Ford, Mercedes-Benz, Toyota and Volkswagen cars. IAC will also bring additional equipment and capacity to the site.

South Africa is the biggest single source of auto production in Africa with 532,000 vehicles made in the country in 2012. Analysts with IHS Automotive estimate production will climb to 600,000 units by 2018, IAC said.

The South African government's Automotive Production and Development Programme calls for the country to support additional auto production in the coming years, with a target of 1.2 million vehicles made in South Africa by 2020.

 


Comments

Automotive supplier IAC forms joint venture in South Africa

By Rhoda Miel
News Editor

Published: July 9, 2013 1:09 pm ET
Updated: July 9, 2013 1:10 pm ET

Post Your Comments


Back to story


More stories

Image

Ford's final ACH plant, injection molder of HVAC systems, to close

October 22, 2014 1:58 pm ET

Ford Motor Co. will shed the last line of business in 9-year-old Automotive Component Holdings LLC by December when ACH closes its Plymouth, Mich.,...    More

Image

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

BASF targets coffee and automotive connoisseurs with new resin grades

October 21, 2014 2:07 pm ET

BASF SE is using polybutylene terephthalate (PBT), which is normally used to manufacture high-end electronics, in a food consumer packaging product.    More

Image

Report: Suspected former Nazi with plastic connection collecting Social Security

October 20, 2014 3:52 pm ET

AKRON, OHIO — A one-time plastics executive in Akron is among dozens of suspected former Nazis who have been collecting U.S. Social Security...    More

Ford shrinks its supplier 'watch list'

October 20, 2014 1:35 pm ET

Ford purchasing chief Hau Thai-Tang says suppliers are starting to invest in additional production capacity because they think the recovery is real.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events