Tata AutoComp has marked a significant milestone in its journey of expanding globally. The company has completed the acquisition of the assets of International Automotive Components Group Sweden AB, popularly known as IAC Sweden. With this, the Swedish business will now operate under a new name — Artifex Systems AB.
The move is significant because IAC Sweden is a well-known European manufacturer of high-quality interior and exterior parts for the automotive industry, with an annual turnover of around USD 800 million, hence making it a strong addition to the global portfolio of Tata AutoComp.
What This Acquisition Means
Tata AutoComp said this deal would bring in significant synergies, create an opportunity to expand its footprint in Europe, and consolidate relations with European passenger and commercial vehicle makers. This will add tremendous value by combining the strengths of the two organisations.
Key points:
- IAC Sweden is now Artifex Systems AB, under Tata AutoComp.
- The deal brings advanced design, engineering, and system-level capabilities to the group.
- Tata AutoComp obtains better access to main European OEMs.
- The combined expertise covers premium manufacturing, precision painting, plastic molding, and large-scale assembly.
Tata AutoComp says this is another milestone in its global growth story and reinforces its vision for becoming a stronger, more diversified worldwide supplier.
Leadership Speaks
Tata AutoComp Vice Chairman Arvind Goel said the company is delighted to welcome the Swedish team into the family. He added that Artifex Systems AB, along with the units in Slovakia and the interior systems division, will eventually operate under one unified identity.
Tata AutoComp Managing Director and CEO Manoj Kolhatkar pointed out that the Swedish operations bring in deep manufacturing knowledge and human resource talent. He said these strengths would enable Tata AutoComp to enhance its global footprint and competitiveness.
From the Artifex side, Anders Ericson, VP – Operations, said joining Tata AutoComp opens new opportunities for growth, collaboration, and long-term development.
The acquisition was also welcomed by senior diplomats.
- The Ambassador of India to Sweden, Anurag Bhushan, said the move highlights the growing cooperation between India and Sweden.
- Jan Thesleff, Ambassador of Sweden to India, said Tata AutoComp’s role will help protect jobs, support customers, and strengthen Sweden’s automotive supply chain.
- Sven Ostberg, Consul General of Sweden in Mumbai, further added that the acquisition will help maintain smooth operations across the Swedish plants.
About Artifex Systems AB
The company has three plants, in Lassby, Fargelanda, and Skara, and employs some 1,800 persons. It supplies major brands such as Volvo Cars, Volvo Trucks and Scania. With high capacities in molding, painting and assembly, Artifex specializes in high-performance and sustainable mobility solutions.
About Tata AutoComp
Tata AutoComp supplies a wide range of components to leading manufacturers in the passenger vehicle, commercial vehicles, EV, two-wheelers, tractors, etc. The company has 21 business units, including 11 joint ventures, and 66 manufacturing facilities around the world. Its portfolio includes plastics, composites, HVAC systems, seating, drivetrains, emissions technology, battery packs, thermal management and aftermarket solutions.
Conclusion
The acquisition brings two strong teams together, helps Tata AutoComp grow globally, and supports long-term growth for the automotive industry in India and Europe. It marks a new beginning for Artifex Systems AB as part of Tata AutoComp.