IAC completed the acquisition of C&A’s Saltillo, Mexico operation on October 1, 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.
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 outside the United States were not included in the bankruptcy filing.
C&A’S SALTILLO, MEXICO OPERATION
C&A’S SALTILLO, MEXICO OPERATION (“Saltillo”) manufactures injection molded automotive components, including instrument panels, doors, fascias and interior trim. General Motors is its largest customer. C&A established the Saltillo operation in 1995; presently it is 156,000 square feet and it has 250 employees.
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 and Franklin Mutual Advisers, LLC (75%) and Lear Corporation (25%).