International Automotive Components Group North America is to buy Collins & Aikman’s factory in Hermosillo, Mexico for $US17m plus the assumption of certain liabilities.
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Built in 2004, Hermosillo, a 430,000 square foot facility with annual revenues in excess of $200m and more than 1,200 employees, primarily manufactures and assembles instrument and door panels for Ford.
The deal adds to IAC Group’s manufacturing base in low cost areas where it already generates $4.5bn of sales from 55 plants in 17 countries.
IAC NA previously agreed to buy C&A’s automotive carpet and acoustics business for $126m.
