Financing IAC postpones stock offering to next year
International Automotive Components Group plans to delay its initial public offering until 2014. The Luxembourg based auto parts supplier, which operates a plant in Iowa City employing about 750, sought up to 115 million in the IPO. Delays follow market turmoil and Chrysler’s postponement. Wilbur Ross built IAC through takeovers starting in 2006. The firm makes instrument displays, door panels and headliners.
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