IAC to open carpeting plant near Beijing
International Automotive Components Group Inc. has further expanded its growing presence in China with a new automotive carpet manufacturing plant near Beijing, the supplier said.
IAC, the interior components company owned by billionaire industrialist Wilbur Ross, will supply carpet for Shanghai General Motors plus carpet and trunk trim for Beijing Daimler-Benz Automotive Co. Ltd.
The plant is IAC's 14th facility in Asia. It is part of IAC's 50-50 joint-venture between IAC Asia and Shanghai Car Carpet Plant, and is expected to create about 80 jobs at the plant.
"Adding these top-caliber facilities and expanding our capabilities in locations nearest our customers had been a catalyst for our expansion in Asia and specifically our growth in China," said IAC CEO Jim Kamsickas said in a statement.
The new plant will add to the company's nearly $100 million book of business in Asia, which Ross expects to double by 2012, he said in a statement.
Since April 2008, IAC has opened four plants and offices in China.
The company opened a plant in Wuhan to supply Dongfeng Nissan and Dongfeng Honda, followed by a plant to supply instrument panels and door panel assemblies to Volvo vehicles manufactured by Changan Ford Mazda Automobile Corp.
IAC launched its Asia headquarters in January 2009, which houses the company's purchasing, sales, finance, human resources, marketing and engineering operations for IAC in China.
Last July, IAC also opened an interior parts plant in Fuzhou. IAC is based in suburban Detroit.
