IAC plans to go public, issue IPO

If the rumours are to be believed it is being speculated that, International Automotive Components Group (IAC), may go public in an IPO. The company was organized from the remnants of companies like Lear Corp. and Collins & Aikman by the billionaire investor Wilbur Ross.

Published On Feb 05, 2011 17:34 IST

Published OnFeb 05, 2011 17:34 IST

Last Updated OnFeb 05, 2011 17:34 IST

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As per the reports, officials from IAC have stated that the reports are speculative but the sources also confirmed that Ross has hired JPMorgan Chase. JPMorgan Chase would look after the registration statement for an IPO in March. However the officials did mention that there might be a change in the plan.

It is believed that Ross Acquired and consolidated the loss making interiors manufacturing units of Collins & Aikman and Lear Corp. Not only this but he also converted the firm into a profit yielding organization. Currently the company employs around 19,000 employees across the world.

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<p>A totally people's person Vikas Yogi ventured into journalism 5 years ago. He started his career as a journalist for an online media agency, where he worked on few of their best online projects. Later on, he was given command of their entire content development division, where he single handedly managed and developed content for various domains ranging from Telecommunications, Electronics, Home Appliances, Fashion, Lifestyle to his favorite 'Automobiles'.</p> <p>He has spent more than 3 years writing about the automobiles and being a car fanatic, he has got the right blend of enthusiasm and knowledge that is required to keep the readers' spirits up. Known for his wits and puns, Vikas is leading a team of journalists as an expert on automobiles but surely not limited to being one.</p>Read more