Categories: Industry News
      Date: Nov  4, 2011
     Title: IAC &APM in automotive joint ventures 

International Automotive Components Group (IAC), a tier-one car-components maker owned by billionaire Wilbur Ross, will tie up with APM Automotive Holdings Bhd, a leading Malaysian auto parts maker, to set up operations in Thailand and Malaysia.



International Automotive Components Group (IAC), a tier-one car-components maker owned by billionaire Wilbur Ross, will tie up with APM Automotive Holdings Bhd, a leading Malaysian auto parts maker, to set up operations in Thailand and Malaysia.

The proposed joint venture in Thailand under IAC APM Automotive Systems Ltd will see IAC holding 60% while APM the balance. In the Malaysian operations under APM IAC Automotive Systems Sdn Bhd, IAC will hold 40% and APM 60%.

The joint ventures will be IAC’s first investments in the ASEAN (Association of Southeast Asian Nations) region, as it steps up its expansion trail in Asia, reaffirming its position as a leading global player in the car interiors segment.

James Kamsickas, Global Co-CEO and President of IAC North America and Asia said the company considers Asean as a very important region.

The joint ventures would be able to leverage on the combined expertise of both companies in vehicle interiors with comprehensive manufacturing capability and facilities to support multinational and local original equipment manufacturers (OEMs) operating in Asean.

The new companies will undertake the design, engineering and manufacturing for a wide range of vehicle interior components and systems, including instrument panels, door panels, floor consoles, interior trim, flooring and acoustics, overhead systems and package trays, as well as exterior components, such as fascias and rocker panels.

APM Executive Director Dr. Fun Woh Peng said the joint ventures would enable APM to provide modular systems to its existing OEM customers in Malaysia as well as new OEMs in the ASEAN region.

APM also has operations in Indonesia, Vietnam, Australia and the United States.

Adapted from NST Business Times and StarBiz 3 Nov 2011