International Automotive Components Acquires Collins & Aikman Brazil
International Automotive Components Group Brazil, a joint venture between WL Ross & Co. LLC and Franklin Mutual Advisers, LLC, has acquired a controlling stake in the Brazilian operations of Collins & Aikman. The deal includes 100 percent of the equity interests in Permali do Brazil Industria e Comercio Ltda. (Permali), and approximately $48.2 million of intercompany loans (including accrued interest), to Plascar Industria de Componentes Plasticos Ltda. (Plascar Ltda).
Grammer AG Wins Volkswagen Best Supplier Award
Grammer AG – Automotive, a supplier of specialty automotive seating systems, has received a 2003 Best Supplier Award from Volkswagen’s Truck and Bus Division. Grammer’s Atibaia, Brazil operations produce all Volkswagen bus and truck seats manufactured in Brazil. Four companies out of Volkswagen’s more than 350 suppliers were selected for the recognition.