Tata AutoComp Systems through its British subsidiary, Artifex Interior Systems, on Wednesday completed the acquisition of IAC Group (Slovakia), in a bid to expand deeper into the UK and European Union (EU) markets, the company announced Wednesday. It added that the acquired entity, a key supplier to Jaguar Land Rover, Volkswagen, Audi and Skoda, will be renamed Artifex Systems Slovakia after the integration.
Sweden Engineering Centre to Launch in Gothenburg
According to the company statement, Artifex will open its Sweden Engineering Center in Gothenburg on 18 February, to be inaugurated by Arvind Goel, vice-chairman, Tata AutoComp Systems. The new centre is likely to strengthen engineering and innovation capabilities in Europe and support closer collaboration with customers and partners across the region.
“With this integration, we are now better positioned to deliver long-term value, operational excellence, and world-class quality to global OEMs. We have a well-defined plan to strengthen the Artifex brand by bringing toobtainher Artifex Systems, Artifex Interior Systems and Artifex Systems, with operations in Sweden, the UK and Slovakia, under one cohesive and unified identity,” Goel declared in a statement.
Manoj Kolhatkar, MD & CEO, Tata AutoComp Systems, declared that this integration will enable quicker decision-creating, improved execution, and enhanced value delivery for their OEM clients in the region.
“This development also underscores the strong potential for deeper industrial cooperation between India and Slovakia,” declared Apoorva Srivastava, Ambassador of India to Slovakia.
Artifex, part of Tata AutoComp Systems, operates across the UK, Sweden and Slovakia, delivering full-service supply from design and engineering through to manufacturing. The group reports $1.3 billion in annual revenue with manufacturing facilities across the UK, Sweden and Slovakia.
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