Billionaire investor Wilbur Ross plans to take International Automotive Components Group (IAC) public this year and has hired Bank of America (BAC.N) and JPMorgan Chase (JPM.N) to run the process, two people familiar with the matter said on Wednesday. Ross, known for consolidating out-of-favor assets in areas such as autos, steel and coal, has built IAC into an auto interiors supplier with revenue of $5 billion. IAC was not profitable in 2009 when the auto industry was pushed to the brink of collapse. Ross told Reuters last year that he expected the business to turn profitable in 2010. IAC is among a number of auto companies expected to go public this year, including automaker Chrysler and parts supplier Delphi. (Reporting by Soyoung Kim and Clare Baldwin. Editing by Robert MacMillan)
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