SOUTHFIELD, MICH. (Sept. 6, 2:05 p.m. ET) — International Automotive Components Group is establishing its first manufacturing presence in Texas with minority ownership in a joint venture making parts for Toyota Motor Corp.
IAC owns 49 percent of Reyes Automotive Group II in San Antonio, with San Antonio businessman Fernando Reyes owning the majority stake. The partners have applied for certification as a minority supplier, IAC said in a Sept. 6 news release.
RAG will supply injection molded and blow molded interior parts for the Toyota Tundra and Tacoma trucks made at Toyota's assembly plant in San Antonio.
The 90,000-square-foot manufacturing site has 200 employees. Reyes previously was a joint venture partner of Lear Corp. at the San Antonio plant. Southfield, Mich.-based IAC acquired the interior parts business of Lear in 2006, but that did not include the San Antonio venture.
The San Antonio operation marks three new North American investments by IAC in the past 12 months, along with a sequencing plant in Belvidere, Ill., and the acquisition of AmPro Molding LLC of Anniston, Ala.