IAC Group, controlled by Commerce Secretary Wilbur Ross, left, broke ground on a new auto supplier plant in Poland.
A major automotive supplier controlled by U.S. Secretary of Commerce Wilbur Ross has broken ground on a new factory – in Poland.
International Automotive Components is moving ahead with construction of a brand new $20 million plant in Opole, Poland, which is part of the company’s plan to expanding its manufacturing operations in Eastern Europe.
The new plant, which will produce tailored instrument panels for premium passenger cars, will be operational by the middle of this year.
“The IAC Opole installment is aligned with IAC’s 2020 Vision, our global strategy of supporting our customers with innovative and high quality interiors solutions that help them to create sales success in the various regions where they are located,” said IAC Senior Vice President Cockpit & Overhead Systems Europe Marcus Nyman.
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IAC Opole will be built in stages throughout the course of 2017, and will cover 290,625 square feet. It will be the company’s 27th plant in Europe where it will assemble the growing Eastern European automotive region.
Although initially built to provide premium customized instrument panels, the plant has been designed to support future growth by supplying other interiors products to vehicle manufacturers in the region, as many international automakers are establishing, or already have plants, within 300 miles from IAC Opole.
The plant will initially will focus on “cut & sew” operations as well as hand-wrapped premium instrument panels, and is expected to generate approximately 550 skilled jobs in the region.
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Ross organized IAC by acquiring the assets of several bankrupt suppliers and succeeded in nursing them back to financial health. Despite being part of President Donald Trump’s cabinet, Ross has not yet moved to divest himself of his stake in IAC.
Trump recently announced that Ross, a highly successful Wall Street financier, will lead his administration’s efforts to re-negotiate NAFTA and other trade agreements and bring jobs back to the United States.
International Automotive Components is considered a leading global supplier of automotive components and systems, including interior and exterior trim with sales of $6 billion in 2016.
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Headquartered in Luxembourg, IAC Group operates 77 manufacturing facilities in 18 countries. The company has about 100 locations in 21 countries, including 27 design, technical and commercial centers, and employs more than 31,000 people globally.