IAC
Joint venture with South African Feltex / Country's automotive market showing good growth through 2018
 The East London Automotive Supplier Park in South Africa is home to the new IAC-Feltex JV (Photo: IAC) |
With a view to the steadily growing automotive industry in South Africa, Luxembourg-based International Automotive Components (IAC; www.iacgroup.com ) has formed a joint venture with South African Feltex Automotive (Durban; www.feltex.co.za) a supplier of flooring, acoustics and trim components.
With the JV, known as IAC-Feltex, the European supplier of automotive components and systems takes its first plunge in the South African automotive market, which experts predict will grow to an annual manufacturing level of 600,0000 passenger car units by 2018. IAC is to provide design, engineering and manufacturing expertise for interior components to Feltex' regional market knowledge at the JV site to be located in East London, on the country's southeastern coast.
The JV will initially support current production requirements for Ford, Mercedes-Benz, Toyota and Volkswagen. IAC recorded sales of USD 4.7 bn in 2012 and has 79 manufacturing facilities in 18 countries.
With the JV, known as IAC-Feltex, the European supplier of automotive components and systems takes its first plunge in the South African automotive market, which experts predict will grow to an annual manufacturing level of 600,0000 passenger car units by 2018. IAC is to provide design, engineering and manufacturing expertise for interior components to Feltex' regional market knowledge at the JV site to be located in East London, on the country's southeastern coast.
The JV will initially support current production requirements for Ford, Mercedes-Benz, Toyota and Volkswagen. IAC recorded sales of USD 4.7 bn in 2012 and has 79 manufacturing facilities in 18 countries.
17.07.2013 Plasteurope.com [225862-0]
Published on 17.07.2013
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