IAC buys Indian auto parts supplier
To expand its footprint globally, US processor International Automotive Components (IAC), which is owned by billionaire financier Wilbur Ross, is acquiring the automotive assets of India-based Multivac, a manufacturer of console trays, door trims, headliners and other interior trims.
IAC set up its facility in Pune in 2008 and with Multivac will expand its presence in the country to the north since the latter has a facility in New Delhi. IAC is also building a facility in Chakan, north of Pune. Multivac's customers include Volkwagen, Maruti Suzuki, Volvo and Mahindra & Mahindra
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