International Automotive Components recently announced a definitive agreement with Shanghai Shenda Co. Ltd. to establish a global joint venture, which will supply soft trim and acoustics products to automobile OEMs. Shanghai Shenda will hold a 70% stake in the UK-based JV which is valued at USD 570 million, while IAC will take the remaining 30% interest. The new firm will be named later.
Shanghai Shenda Co Ltd is a China-based company mainly engaged in import and export trade, research, development and manufacturing of industrial textiles. The Company primarily conducts its business through three segments. The Trade Services segment is mainly engaged in import and export trade, mainly including textiles, home textiles and other import and export businesses. The Manufacturing Business segment is mainly engaged in the business of automotive interior and acoustic components, mainly including the manufacture of floor system products, acoustic component products, soft decoration products and other interior parts. The Headquarters and Properties segment is mainly engaged in the business of new textile materials, mainly including the development and research of flexible composite material products. Its main products include biogas membrane structures, architectural membrane structures, waterproof membranes, oil-proof barriers, inflatable materials and others.
SHANGHAI SHENDA CO., LTD 
