DEARBORN, Mich. — International Automotive Components Group (IAC) North America has acquired flooring and acoustics supplier Stankiewicz International Corp., a U.S. subsidiary of Gimotive GmbH. This deal follows IAC’s 2009 acquisition of Stankiewicz’s European Flooring and Acoustics operations.
The acquisition includes a manufacturing campus comprised of three buildings encompassing 190,000 square feet of manufacturing space. Located in Spartanburg, S.C., the operation employs approximately 150 people and manufactures flooring systems, dash insulators and trunk systems. The Flooring and Acoustics operation generates approximately $30 million in annual sales, and is expected to increase to $50 million in 2011, based on booked business.
"This strategic acquisition represents another step in IAC’s commitment to continue reinforcing its global leadership position in the vehicle interiors segment," said James Kamsickas, IAC’s president and CEO of North America and Asia. "The greatest strength we gain from this deal is the extensive skill and expertise of the employees – from both Europe and the U.S. – who now join the IAC family of vehicle interiors experts."
Wilbur Ross, chairman of IAC added, "The transaction further strengthens IAC’s manufacturing footprint in North America, provides added value to existing and new customers in the segment and continues the consolidation of the industry."
In July of 2009, IAC Europe acquired Stankiewicz GmbH, which was a market leader in the European premium automotive segment for insulations, dampening products, sound absorbers, floor coverings and other coverings. Stankiewicz GmbH filed for insolvency on Dec. 29, 2008, due to the severe downturn in the automotive market. IAC Europe acquired nine European facilities in Germany, Belgium, Czech Republic and Poland, 1,200 employees and a business that generated more than 150 million Euros (approximately $207 million) in annual (2008) sales as part of the Stankiewicz GmbH transaction.
