12 Oct International Automotive Components Completes Collins & Aikman Soft Trim, Saltillo Acquisitions
DEARBORN, Mich. (October 12, 2007) – International Automotive Components Group North America (IAC NA) today announced that it has completed the acquisition of the soft trim division from Collins and Aikman (C&A). Additionally, IAC NA concluded its acquisition of a C&A manufacturing facility in Saltillo, Mexico on October 1, 2007. Together, the acquisitions generate a total of $600 million in annual sales.
“These strategic acquisitions enable IAC NA to strengthen our product portfolio, increase our technical competencies and improve our ability to meet our customers’ needs,” said Jim Kamsickas, president and CEO of IAC NA. “We look forward to integrating the talented C&A employees into our organization as we move forward to further improve our business.”
The acquisition of C&A’s soft trim division includes sixteen facilities in North America that manufacture carpeting, molded flooring products, dash insulators and other related interior components. Additionally, the acquisition includes a noise, vibration and harshness (NVH) technical center. The C&A division had 3,900 employees.
The Saltillo facility manufactures injection molded components, including instrument panels, doors, fascias and interior trim. The 156,000 square foot facility opened in 1995 and has 250 employees.
IAC NA Chairman Wilbur Ross said, “We have been trying to buy these operations ever since C&A filed for bankruptcy because strategically they give us a major position in the automotive carpet and acoustics sector and strengthen our Mexican manufacturing base.”