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

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

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 billion 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

Upcoming Plastics News Events

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

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

More Events