Big move by Noel Tata, to acquire 100% share capital of…, enters into agreement with…

Auto components manufacturer Tata AutoComp Systems announced on Thursday that it has entered into an agreement to fully acquire Slovakia-based IAC Group. However, the company did not reveal the financial terms of the deal.

The company, through its British subsidiary Artifex Interior Systems Limited (Artifex), has entered into a conditional agreement to acquire 100 per cent of the share capital of IAC Group (Slovakia).

How Will Acquisition Help Tata AutoComp Systems?

 The strategic acquisition will strengthen the company’s capabilities and will lay the foundation for deeper expansion across the UK and EU markets, Tata AutoComp said in a statement.

The move supports the firm’s ambitious growth plans, positioning the company as a significant player in the European automotive industry, in line with its vision to become the partner of choice for global OEMs, it added.

Completion of the acquisition is conditional, including being subject to applicable regulatory approvals, it said.

“The acquisition of IAC Slovakia will mark a significant milestone in Tata AutoComp’s global growth journey. Following our earlier acquisition of Artifex, this step strengthens our European presence and reflects our commitment to serving global OEMs more effectively,” Tata AutoComp Vice-Chairman Arvind Goel said. 

What Does Tata AutoComp Systems Do?

Established in 1995 under the aegis of the Tata Group, Tata AutoComp Systems was founded to introduce advanced auto component technologies to India, catering to the expanding Indian automotive sector. Specializing in the design, development, manufacturing, and supply of auto-component products and services, the company operates through its various Divisions and Business Units (BUs), encompassing both Subsidiaries and Joint Ventures. 

(With Inputs From PTI)

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