INOAC USA Inc. (IUI) Acquires ABC Technologies’ Share of Former Joint Venture
TROY, Mich., February 20, 2023 (Newswire.com) - INOAC USA Inc. has recently completed its purchase of ABC Technologies' 50% equity interest in the former joint venture, ABC INOAC Exterior Systems, to create an independent and wholly owned entity renamed INOAC Exterior Systems (IES). Adding four facilities with more than 1,200 employees will better enable INOAC to independently drive its strategy in the North American automotive exterior parts market through IES.
President of INOAC USA, Inc., Rob DePotter, is excited about opportunities for IES in the automotive industry and beyond. "We will provide the same high-quality and consistent delivery performance, as well as increase our focus on customer satisfaction, innovation and strategic investments in the automotive exteriors market. The acquisition places INOAC in a strong position to leverage scale across our North American businesses and manufacturing footprint," said DePotter.
INOAC Exterior Systems will continue to be a key supplier for auto manufacturers in North America, with products tailored to customers' engineering and production needs. Products are Class A, available in painted, primer-/paint-ready, molded-in-color (MIC) and textured. IES exterior automotive components deliver light weighting along with strength and the ability to accommodate the custom designs that automakers seek.
INOAC is an international independent and diversified company. IUI, the North American portion of the company, operates multiple joint venture and wholly owned entities in the region.
INOAC is a leading global company in the field of polymer chemistry, specializing in polyurethanes, polyolefins, elastomers, plastics and composite materials. INOAC is known for its commitment to creating a "forest" of product diversity through a wide range of goods and materials in five business categories:
- Automotive - Interiors, exteriors
- High-Performance - Consumer, information technology equipment
- Consumer - Home appliance NVH and thermal insulation, gasketing, filtering, sports and industrial PPE
- Medical - Wearables, Smart Patches, basic and advanced wound care, drug delivery
- Housing and Construction - Housing, construction, civil engineering, environment
- Bedding and Furniture - Mattresses, nursing care furnishings, HUKLA furniture
- IRC Tire - Specialist manufacturer
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Original Source: INOAC USA Inc. (IUI) Acquires ABC Technologies' Share of Former Joint Venture