IAC's Ross is World Congress speaker
DETROIT -- Wilbur Ross, chairman of International Automotive Components Group, will be a featured speaker at the 2013 Automotive News World Congress.
Ross, who will be 75 in November, is one of the most successful investors and consolidators of automotive suppliers. He will speak after dinner Wednesday evening, Jan. 16.
Ross got into the automotive supply business after earlier restructuring and consolidating failing companies in other industries, including steel, coal and telecommunications.
He began assembling IAC in 2006 by acquiring distressed companies that produced mostly interior components such as instrument panels, consoles, cockpits, headliners and door trim.
IAC Group, headquartered in Luxembourg, ranks 47th on the Automotive News list of the top 100 global suppliers with $4.4 billion in sales to automakers in 2011. About 52 percent of the group's sales last year were in North America, 43 percent were in Europe and 5 percent in Asia.
The theme of the 2013 Automotive News World Congress is "Driving Change: Global Uncertainties/Local Opportunities."
The event will be held Jan. 15-17 at the Detroit Marriott Hotel at the Renaissance Center during media preview week at the North American International Auto Show.