EDITOR'S NOTE: Due to incorrect information given to Crain's, an earlier version of this story misstated IAC's expected growth in Asia. The earlier version also misspelled Shanghai General Motors.
International Automotive Components Group Inc. further expanded its growing presence in China with a new automotive carpet manufacturing plant near Beijing, the supplier said today.
IAC, the Dearborn-based interior components company owned by billionaire industrialist Wilbur Ross, will supply carpet for Shanghai General Motors and carpet and trunk trim for Beijing Benz-Daimler Automotive Co. Ltd. from the more than 46,000-square-foot plant.
The plant, IAC's 14th location in Asia, is part of IAC's 50-50 joint-venture between IAC Asia and Shanghai Car Carpet Plant and is expected to create about 80 jobs at the plant.
"Adding these top-caliber facilities and expanding our capabilities in locations nearest our customers had been a catalyst for our expansion in Asia and specifically our growth in China," IAC CEO Jim Kamsickas said in a statement.
The new plant will add to the company's nearly $225 million book of business in Asia, which Ross expects to grow to $425 million by 2012, he said in a statement.
Beginning in 2008, IAC has launched four operations in China since April of 2008.
The company opened a plant in Wuhan to supply Dongfeng Nissan and Dongfeng Honda in April of 2008, followed by a plant the following October to supply instrument panels and door panel assemblies to Volvo vehicles manufactured by Changan Ford Mazda Automobile Corp.
IAC launched its Asia headquarters in January 2009, which houses the company's purchasing, sales, finance, human resources, marketing and engineering operations for IAC in China.
Last July, IAC also opened an interior parts plant in Fuzhou.