IAC Group to spread its roots in Indian Auto market

Owing to the immense progress registered by the Indian automobile market, the global investors are turning towards it to grab the opportunity lined up for them. In 2010, the market reached a growth of stunning 30% and this is also the time when all auto makers flaunted some landmark performances. It is now the famous International Automotive Components Group (IAC) which is an organisation run by Wilbur Ross is planning to enter the Indian auto market, which is evident from the purchase of Multivac's automotive assets in Delhi by the company.

The company is known for manufacturing interior component of vehicles and supplies them globally at a large scale whereas Multivac which is acquired by IAC is known for manufacturing headliners, door panels, interior trim and instrument panels. As per the reports, the acquisition will help the company in gaining a hold on the northern region of India along with an effective reach to clientele like Volvo Eicher, Maruti Suzuki and International Tractors. At present the company is holding a well established plant at Chakan which is situated near Pune.

Gajanan Gandhe who is the Senior Vice-President of IAC Asia Operations commented that company has been delivering its products clients like Volkswagen and Mahindra Navistar and would love to add may more names on the list.

As per the reports, appropriate names that can be placed on this client list can be General Motors, Tata Fiat, Tata Motors and Dailmer. The probable location for its facilities will be Talegaon, Ranjangaon and Pimpri. Owing to the company's alliance with China based SAIC Motor Corp, company is getting good response from General Motors. Mr. Gandhe also said that Shanghai GM and SAIC makes the most essential clients in China and IAC will continue the same relations with these companies in India as well. IAC in association with Multivac's Automotive is planning a product mix of light commercial vehicles and cars with production facility in Gujrat & Pune. As per the reports, Mahindra & Mahindra is also planning big for its Chakan plant which will be enhanced to manufacture Navistar range along with the M&M W201, the Global SUV which will be launched in coming months. For the Volkswagen, IAC can supply the prts for its Volkswagen Vento, and Volkswagen Polo.

The company's plans does not end here as the company is also planning to establish a plant in South region in order to supply parts to Mahindra Reva, the famous electric car from Indian car maker. The company also intends to enter the two and three-wheelers parts manufacturing segment.

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