Collins & Aikman’s Operation in Hermosillo, Mexico Acquired by International Automotive Components Group
THE TRANSACTION
IAC completed the acquisition of C&A’s Hermosillo, Mexico operation on November 6, 2007. The strategic transaction enables IAC to strengthen its Mexican manufacturing base and its product portfolio, and to improve its ability to meet its customers’ needs.
Our Client
COLLINS & AIKMAN CORPORATION
Collins & Aikman Corporation (“C&A”) was a supplier of automotive flooring and acoustic systems, injection molded interior and exterior components and convertible top systems, headquartered in Southfield, Michigan. On May 17, 2005, C&A and 37 of its U.S. subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. C&A’s Mexican affiliates were not included in the bankruptcy filing.
C&A’S HERMOSILLO, MEXICO OPERATION
C&A’s Hermosillo, Mexico Operation (“Hermosillo”) facility manufactures cast skin and injection molded automotive interior components, primarily instrument panels, consoles, and door panels for Ford Motor Company. C&A established the Hermosillo operation in 2004; it is 430,000 square feet and had approximately 1,300 employees.
Transaction Partner
INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP
International Automotive Components Group ("IAC") is a leading global supplier of automotive components and systems, including interior and exterior trim and structural and functional applications. Including its recent acquisitions from C&A, IAC's annual global revenue now exceeds $5.2 billion. IAC operates manufacturing operations in 16 countries with more than 27,000 employees. IAC is owned by WL Ross & Co. LLC, Franklin Mutual Advisers, LLC and Lear Corporation.
CONTACT
Automotive & Truck
Automotive & Truck
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