International Automotive Components Group is expanding internationally, breaking ground on two joint-venture factories in China and buying a plant near Liverpool, England.
Dearborn, Mich.-based IAC said it would build the two joint-venture factories in China during the next 12 months. The supplier of plastic interior parts, including door panels, instrument panels, overhead systems and flooring systems, will break ground for one of the plants late this year with the second coming in early 2009, said David Ladd, IAC executive director of marketing and communications.
Ladd declined to disclose the size and exact location of the plants, as land contracts have not been finalized.
IAC has its Chinese headquarters and engineering center in Shanghai. The company also has two joint-venture manufacturing plants in Shanghai: Shanghai Awning and International Automotive Components, and Shanghai Car Carpet Factory and International Automotive Components.
The company also has a joint venture in Wuhan, China, that supplies the Japanese market.
Meanwhile, in Europe, IAC has purchased a Visteon Corp. interiors plant in Halewood, England.
The plant assembles cockpit systems for a Jaguar and Land Rover plant in the same city. IAC will take over the plant's 150 employees, assembly operations, assets and supply contracts, according to an Aug. 29 statement from Visteon.
The former Visteon plant had sales of about $150 million in 2007. A sale price was not disclosed.
Visteon, based in Van Buren Township near Detroit, makes parts and systems for interiors, climate control, electronics and lighting.
Privately held IAC posted sales of $5.5 billion in 2007.