International Automotive Components (IAC) Group has formed a joint venture with Reyes Holdings – Reyes Automotive Group, a San-Antonio based supplier of interior components based at Toyota Motor Manufacturing, Texas (TMMTX).
The joint venture will apply for certification as a Minority Business Enterprise (MBE), with Reyes holding 51% ownership and IAC having 49%. The joint venture will supply injection and blow moulded interior trim components and sequence and assembly services for the Toyota Tundra and Tacoma built at TMMTX in San Antonio.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The 90,000-square-foot facility has nearly 200 employees and uses injection and blow moulding manufacturing processes – a core competency of IAC that comprises more than 150 years of vehicle interiors business.
“We are pleased to expand our support to Toyota with this agreement,” said global co-CEO and president of IAC North America and Asia James Kamsickas. “This joint venture affords significant opportunity for IAC and Reyes to work together in mutual support of some key programmes, while establishing IAC’s presence as a leading interiors supplier for Toyota’s Texas plant.”
“The joint venture brings two experienced vehicle interiors suppliers together in a partnership that will provide value to our customers going forward,” said chairman and CEO, Reyes Automotive Group CEO Fernando Reyes. “We look forward to growing this business together with IAC.”
The joint venture will be IAC’s first facility in Texas and third manufacturing operation established in the past year, including plants in Anniston, Alabama in November 2010 and Belvidere, Illinois in June this year.
