Tata AutoComp Completes Key Swedish Acquisition to Strengthen European Manufacturing Footprint

Tata AutoComp Systems Ltd. on Tuesday announced it has completed the acquisition of International Automotive Components Group Sweden AB's operations. This marks a key expansion of the Indian automotive components manufacturer's presence across Europe. The acquired business, which generates roughly $800 million in yearly turnover, has been rebranded as Artifex Systems AB. The deal strengthens Tata AutoComp's capacity to build closer ties with European vehicle manufacturers across both passenger car and commercial vehicle markets.

Company officials have described the acquisition as a "landmark achievement" in extending the global reach of one of India's largest automotive component producers.

“We are delighted to welcome IAC Sweden, now Artifex Systems AB, into the Tata
AutoComp family. This transaction aligns with our long-term vision of strengthening our global presence and deepening our relationships with European OEMs. They have a rich legacy of delivering high-quality interior & exterior solutions, and together, we aim to build on that foundation. We have a well-defined plan to strengthen the Artifex brand by bringing together Artifex Systems AB, Artifex Slovakia, and Artifex Interior Systems under one cohesive and unified identity," Manoj Kolhatkar, MD & CEO, Tata AutoComp Systems Ltd., said in a statement.

Artifex Systems AB maintains three production plants located in Låssby (Gothenburg), Färgelanda, and Skara, with a workforce of approximately 1,800 employees. The business provides interior and exterior automotive systems to prominent European vehicle makers such as Volvo Cars, Volvo Trucks, and Scania, specialising in plastic moulding, high-precision painting, and assembly processes.

"We are excited to begin this new chapter as part of the Tata AutoComp family, opening new opportunities for growth and collaboration. This marks a new phase of progress, bringing possibilities to strengthen our capabilities, expand our reach, and contribute to Tata AutoComp’s global vision," said Anders Ericson, Vice President – Operations, Artifex Systems AB.

The transaction has garnered favourable reactions from diplomatic officials from India and Sweden. Anurag Bhushan, Indian Ambassador to Sweden, described the deal as demonstrating the collaborative opportunities between the two nations. Ambassador of India to Sweden, Anurag Bhushan, said: "I am pleased to see IAC Sweden, now Artifex Systems AB, becoming part of Tata AutoComp. I am confident that under Tata AutoComp, Artifex Systems AB will evolve and grow, driving economic growth in the region. This acquisition is also a reflection of the potentialities for collaboration between India and Sweden."

Jan Thesleff, Ambassador of Sweden to India, said: “The revitalisation of IAC Sweden (now Artifex Systems AB) by Tata AutoComp will ensure continuity for Swedish customers, safeguard employment, and strengthen manufacturing capability. We recognise the long-standing and strategic engagement of Tata AutoComp, a reputed company within the esteemed Tata Group, within Sweden’s industrial landscape.”

Tata AutoComp Systems functions through 21 business divisions, encompassing 11 joint ventures with international technology collaborators, overseeing 66 manufacturing sites distributed across India, North America, Latin America, Europe, and China. 

The company's product range includes interior and exterior components, HVAC systems, seating products, and electric vehicle technologies such as battery packs and thermal management solutions.