Tata AutoComp Expands European Presence with IAC Sweden Acquisition

Tata AutoComp Systems Ltd is set to acquire International Automotive Components Group Sweden AB to enhance its European market presence. The acquisition will strengthen relationships with European OEMs, although financial details remain undisclosed. The move aligns with Tata AutoComp's global expansion vision.

Tata AutoComp Systems Ltd announced its plans on Monday to acquire International Automotive Components Group Sweden AB (IAC Sweden) as part of its strategy to bolster its footprint in the European automotive industry.

This acquisition aims to solidify Tata AutoComp's Swedish presence and foster collaborations with prominent European Original Equipment Manufacturers (OEMs) in the passenger and commercial vehicle sectors, according to a company statement.

Though financial terms were not disclosed, the deal, pending European regulatory approval, highlights Tata AutoComp's commitment to global market expansion and sustainable automotive solutions.

(With inputs from agencies.)