As per a recent update it has become apparent that Tata would soon be acquiring International Automotive Components group Sweden AB (IAC Sweden), As per Tata, the takeover is an integral part of the overall directive to strengthen the brand’s presence in the European Market.
The New proposition would allow Tata to enforce its authority in Sweden and enhance the company’s trade ties with European OEM’S in both passenger as well as commercial vehicle segments. This would help the brand further expand its overall grasp on global supply chains.
Recent reports have indicated that the approximate turnover of the IAC Sweden is about $800 million and is a well established manufacturer of interior systems and components for the automotive industry.
Future Plans
As per the views that have been shared by Tata the new move aligns closely with their overall long term vision to strengthen relationships with European OEM manufacturers. The Key importance of the acquisition would help Tata consolidate its position as one of India’s automotive component manufacturers improving the scope of business in the International space. The acquisition would help the manufacturer leverage the high tech manufacturing capabilities its known for to carve a space for its offerings in the global market.
Beyond the recent take over Tata has also gained a formidable prominence across Europe after their take over of Jaguar and Land Rover. Over the years their relationship has spawned a profound number of innovations and technologies that have further added to the automotive industry in general. The relationship in between the companies has helped in the development of cars like Tata Harrier whose underpinnings were shared by Range Rover Evoque.
Also Read: KIA’s 3 Cylinder Turbo Or Suzuki’s 1.2- 4 Cylinder Engine- Which Option Should You Choose?
