IAC Dedicates New Manufacturing Operation – Continues Asia Expansion In Support Of Customer Programs

Chongqing, China (Feb. 18, 2009) – International Automotive Components Group (IAC) today dedicated a new 45,000 sq. ft. manufacturing facility during a ceremony in Chongqing, China where manufacturing of vehicle interior components already started in support of the Chinese domestic market.

“IAC is committed to supporting its customers’ growth in the emerging Chinese market,” said IAC Group Chairman Wilbur Ross. “We are delighted to add the new Chongqing facility to our growing presence in China. Chongqing is an ideal location for IAC and we hope that future business opportunities will allow us to continue expanding our manufacturing in other major Asian automotive centers, as well.”

The new IAC facility will manufacture and assemble vehicle interior components and systems, including instrument panels, and door panel assemblies for Chinese domestic market passenger cars. The manufacturing operation began producing interior components and systems in Oct of 2008 and scheduled to reach capacity by Feb 2009 supporting development and production programs for customers. IAC was awarded new contract to supply interior components to CFMA – Changan Ford Mazda Automobile Co., Ltd – which will be supported from this new location.

“With this significant manufacturing operation, combined with our local engineering and commercial operations in Shanghai, IAC will be strongly positioned to support the dramatic growth expected in the automobile market in this region over the coming decade,” said James Kamsickas, President and CEO of IAC Group North America and Asia. “Chongqing – one of the fastest growing automotive markets in China – is strategically close to key customers, which allows us to continue supporting their global growth needs,” he said.

The dedication ceremony follows a series of recent expansion initiatives by IAC into Asia. In September of 2008, IAC broke ground for a new 150,000 sq. ft. manufacturing operation in Chakan (Pune), India. In early 2008, the company established a 12,000 square foot engineering and administrative facility in Pune. In April of last year, IAC’s joint venture partner Mitsuboshi Belting Kaseihin Co., Ltd. (MBK) – one of the largest instrument panel suppliers in Japan – dedicated a new manufacturing plant in Wuhan, China. Also, IAC added two engineering, program management and sales locations in Yokohama and Nagoya, Japan, as well as Asia headquarters operations in Shanghai, China. Each IAC location in Asia is within 200 miles of customers’ facilities. The Nagoya facility is managed in partnership with MBK.