Core Insights - Inteva Products has acquired specific European operations of International Automotive Components (IAC) Group to enhance its global engineering capabilities and strengthen its position in the automotive interiors segment [1][2] - The acquisition increases Inteva's global workforce to 12,000 employees across 37 sites worldwide, maintaining engineering and technical centers in North America, Europe, and Asia [1][2] - Inteva's portfolio includes four core product lines: closure systems, interior systems, latches, and motors and electronics, supplying engineered systems and components to vehicle manufacturers globally [2] Company Statements - Gerard Roose, president and CEO of Inteva Products, emphasized the shared commitment to innovation and customer success, stating that the merger will create a stronger and more capable entity in the automotive industry [2] - Kevin Baird, CEO of IAC Group, expressed confidence in Inteva as the right partner to build upon their strengths, highlighting future opportunities for teams and stakeholders [3] IAC Group Overview - IAC Group, based in Luxembourg, is a global supplier of automotive components and systems, employing nearly 7,500 people and operating 15 sites, including 12 production facilities in Mexico and the US [3][4] - The company is recognized as a billion-dollar manufacturer, providing various automotive components such as instrument panels, console systems, door panels, headliners, and overhead systems [4]