US based auto component manufacturer International Automotive Components (IAC) Group has opened a new manufacturing facility in Chakan, Pune. The company has invested around Rs 68 crore in this unit. The new plant will produce products including instrument panels, floor consoles, interior and exterior garnish trim, air distribution vents and door panels for Mahindra and Mahindra Navistar vehicles.
This facility is IAC's second manufacturing operation in Chakan since it opened the first plant in early 2009. Jim Kamsickas, global co-CEO and president of North America and Asia region said "Similar to our other three India locations, this facility is strategically located in proximity to a major customer and extends our ability to continue supporting our customer's goals and objectives."
IAC has its expertise in the design, engineering and manufacturing of vehicle interior and exterior components and systems. Gajanan Gandhe, senior vice president, IAC Asia operations said, "This new facility is our development of local engineering capabilities and industry-first manufacturing processes position IAC to be able to offer the very best solutions that meet customers' increasing needs for the domestic and export markets."
He added, "Our customers expect multinational, sophisticated suppliers to support their regional and global needs and this facility is an exceptional example of how IAC fulfills these expectations in India and around the world."
In January 2011, IAC acquired Manesar-based Multivac India Private Limited, a tier-one supplier of vehicle headliners, instrument panels, interior trim and door panels to key global vehicle manufacturers. This strategic acquisition established IAC's northern India footprint in proximity to the New Delhi automotive region, company said.