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 Joint Venture, Automotive, Injection Molding
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

Increased capacity in the US helps Zeon Chemical supply seals globally

September 16, 2014 9:46 am ET

The automotive industry continues to be one of the driving forces of Zeon Chemicals LP., which specializes in heat-resistant and oil-resistant...    More

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German...    More

Image

Delphi CEO O'Neal stepping down

September 15, 2014 12:05 pm ET

Delphi Automotive plc announced that Rodney O'Neal will retire as CEO and president on March 1, 2015, ending his 43-year career at the global...    More

Image

Faurecia Seating grows in Kentucky

September 12, 2014 12:00 pm ET

Faurecia Seating LLC, a division of French-based Faurecia SA, will build a new manufacturing facility in Simpsonville, Ky.    More

Image

Behr-Hella set to open Bulgarian auto parts plant

September 12, 2014 10:20 am ET

German automotive components manufacturer Behr-Hella Thermocontrol (BHTC) is set to launch a new 22 million euro ($28.4 million) vehicle air condition...    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

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

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

More Events