Automotive JV in E Cape raises hope

Jul 10 2013 07:45
Luxembourg - International Automotive Components (IAC) has announced that it has formed a joint venture with Feltex Automotive, a South African-based supplier of automotive flooring, acoustics and trim components.

The joint venture marks IAC's initial entry into the growing South African automotive region.

IAC will provide design, engineering and manufacturing expertise for vehicle interior components.

In addition to product and process expertise, Feltex brings experience from successfully operating in South Africa since 1937.

The company will be located in East London.

According to industry projections, the South African automotive market is expected to steadily increase annual passenger car production to more than 600 000 units by 2018.

The joint venture will initially support current production requirements for Ford, Mercedes-Benz, Toyota and Volkswagen SA operations.

The company's headquarters are in Luxembourg and it operates 79 manufacturing facilities in 18 countries and employs about 26 000 people globally.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

luxembourg  |  sa



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What’s on your gift list this Christmas?

Previous results · Suggest a vote