IAC Group to Establish Joint Venture Parts Company with Malaysian Company

On November 1, 2011, the International Automotive Components Group (IAC) announced the formation of an agreement with the APM Automotive Holdings Co., Ltd. (APM), an automotive parts manufacturing group based in Malaysia. The proposed agreement has yet to be approved by regulatory authorities in Malaysia and Thailand. The joint venture between Malaysia and Thailand will become the first investment in the IAC Group in the ASEAN (Asian South East Asian Union) region, thus continuing the rapid business expansion of this tier one supplier in Asia and strengthening its global leadership in the automotive interiors sector. status.

James Cams Case, co-CEO of the IAC Group and president of North America and Asia, said: “IAC believes that the ASEAN region is very important. We are very pleased to be able to jointly establish these joint ventures with APM. APM and IAC see the business vision. Slightly the same, in the automotive interior core competence and experience, overall manufacturing capabilities and commitment to provide excellent customer satisfaction in the same aspect. "He said:" We look forward to the foundry customers in the region to show our ability to unite ."

The two joint ventures will provide design, engineering and manufacturing services for a wide range of automotive interior parts and systems. These components and systems include dashboards, door panels, interior floor consoles, automotive interiors, floor mats and speakers, ceiling systems and tray kits, and external components such as edging and door sill plates. The IAC Group and APM believe they have the opportunity to support transnational and domestic foundry houses operating in the region.

APM is a regional automotive interior products and solutions provider. It specializes in the supply of automotive products and has excellent business experience in the region. The IAC Group specializes in design, engineering, and manufacturing. It also has a global infrastructure that will allow leading automakers to extend their automotive platforms to support the ASEAN region.

The joint venture in Malaysia will be called APM IAC Automotive Systems Co., Ltd. APM will hold a 60% majority stake. This joint venture will be supported by the existing APM manufacturing units in the region. The joint venture will explore new business opportunities with foundries in Malaysia and abroad.

The joint venture in Thailand will be called IAC APM Automotive Systems. The IAC Group will hold a 60% majority stake. The joint venture will establish the necessary infrastructure to achieve its strategic goals in order to support Thai OEMs.

Dr. Fun Woh Peng, APM's executive director, said: "By providing our existing OEM customers in Malaysia and new OEMs in the ASEAN region with a modular system, these two joint ventures will help APM expand its core capabilities."

Like the establishment of a second manufacturing facility in Chakan, India, in March 2011, the formation of a joint venture with APM was part of the IAC Group’s strategic expansion in Asia earlier this year. In addition, in January 2011, the company acquired Multivac India Sdn Bhd, located in Manisar. This is a first-tier supplier of roof trims, dashboards, interior trims and door panels to major global automakers. With these strategic deals in the ASEAN region and the large investment in Japan and China, the pace of the IAC Group in this booming auto market has become firmer.