NAGOYA, Japan — Wilbur Ross, Chairman of International Automotive Components Group Japan LLC (IACJ) has announced completion of the previously proposed acquisition of Mitsuboshi Belting Kaseihin Co. Ltd. (MBK) from Mitsuboshi Belting, Ltd.
The three MBK manufacturing facilities in Japan supply automotive interior and exterior plastic parts to every major OEM in Japan, including Toyota, Nissan, Honda, Calsonic Kansei and Mitsubishi. MBK’s $170 million in sales will bring total IAC Group revenues to more than $1.5 billion in Eastern and Western Europe, Brazil, Argentina and Japan. The transaction will enable MBK to follow its OEM customers overseas for the first time.