MUMBAI, INDIA (Nov. 28, 1 p.m. ET) — International Automotive Components India Pvt. Ltd. plans to set up another facility in western India to cater the emerging auto hub in the region.
The Pune-based unit of Southfield, Mich.-based International Automotive Components Group declined to comment on the exact location of the new plant.
“The proposed plant is coming up in the next couple of years,” said Gajanan V. Gandhe, senior vice president and executive director of the Indian unit, at the Automotive Plastics 2011 conference in Mumbai.
Gujarat is fast emerging as the next auto hub in western India, so a new plant there could cater OEMs like Tata, General Motors, Ford, Maruti Suzuki and Peugeot.
“The upcoming plant would be a part of IAC's new business growth strategy in emerging markets,” Gandhe said.
IAC makes plastic components including instrument panels, door panels, consoles, carpet and headliners.
In November IAC Group formed two joint ventures with Malaysia-based APM Automotive Holdings Berhad (APM). The JVs in Malaysia and Thailand will be IAC Group's first investments in the Association of Southeast Asian Nations (ASEAN) region, continuing the tier-one supplier's rapid expansion across Asia.
Gandhe said IAC is looking for synergies between the ASEAN and Indian operations in engineering, development and supplies.
IAC boosted its footprint in Asia in early 2011 when it opened a plant in Chakan, India, and it purchased Manesar, India-based Multivac India Pvt. Ltd., a supplier of headliners, instrument panels, interior trim and door panels.