Tata AutoComp Systems Ltd., one of India’s largest automotive component manufacturers, has completed the acquisition of the assets of International Automotive Components Group Sweden AB (IAC Sweden), a major European supplier known for its high-quality interior and exterior systems. IAC Sweden, with an annual turnover of around $ 800 million, will now operate under the Tata AutoComp Group as Artifex Systems AB.
The deal marks a major milestone in Tata AutoComp’s global expansion strategy and significantly strengthens its presence in Europe. It also deepens the company’s long-term partnerships with key European OEMs across both passenger and commercial vehicle segments. The new entity, Artifex Systems AB, will work alongside Artifex Slovakia and Artifex Interior Systems under a unified brand vision.
The integration brings together the core strengths of both organisations: Tata AutoComp’s expansive design, engineering, and system capabilities with IAC Sweden’s advanced manufacturing, precision painting, and assembly expertise. The combination positions the group strongly within the premium automotive components space.
Mr. Arvind Goel, Vice Chairman of Tata AutoComp, welcomed the move, saying: “This transition aligns with our long-term vision of strengthening our global presence and deepening our relationships with European OEMs. Artifex has a rich legacy in delivering high-quality interior and exterior solutions, and together we aim to build on that foundation under a single, cohesive identity.”
Mr. Manoj Kolhatkar, MD & CEO of Tata AutoComp, highlighted that the acquisition brings world-class manufacturing capabilities and a skilled workforce. “Their strong commitment to quality complements Tata AutoComp’s focus on delivering enhanced value to global customers. We look forward to leveraging these strengths to expand our global footprint,” he said.
Leaders from Artifex Systems AB and representatives from both Indian and Swedish diplomatic missions welcomed the development.
Mr. Anders Ericson, Vice President – Operations, Artifex Systems AB, called it “a new chapter of growth, collaboration, and strengthened capabilities.”
India’s Ambassador to Sweden, Mr. Anurag Bhushan, said the acquisition showcases the growing opportunities for India–Sweden collaboration, while Sweden’s Ambassador to India, Jan Thesleff, described the move as vital for ensuring customer continuity, employment stability, and manufacturing strength. Sven Östberg, Consul General of Sweden in Mumbai, added that the acquisition will support the smooth functioning of Artifex’s three plants and reinforce the resilience of Sweden’s automotive component ecosystem.