TitanX acquisition to aid Tata AutoComp to tap engine cooling market
Given the challenges before the auto industry in emission control, this acquisition will help Tata AutoComp to expand its presence in the cooling and emission control segments
Tata AutoComp Systems Limited, a leading auto-component conglomerate, yesterday announced the acquisition of TitanX, the Sweden-based engine cooling supplier. TitanX is a leading engine and powertrain cooling solutions supplier to the commercial vehicle industry having plants across North America, South America, Europe and China with sales of approximately $ 200 million. TitanX is currently owned by EQT Opportunity and Fouriertransform.
Praveen Kadle, chairman, Tata AutoComp Systems Limited, commented, “TitanX represents state of the art powertrain cooling solutions with a global presence that fits perfectly into our future growth areas. We are confident that under the successful and experienced management in TitanX, it will be a great asset and will contribute to the growth of Tata AutoComp.”
TitanX, which serves most of the western world’s OEMs, including Volvo Trucks, Scania, Daimler and Iveco, has manufacturing plants in Sweden, USA, Mexico, Brazil and China.
Ajay Tandon, MD & CEO Tata AutoComp Systems Limited, added, “Tata AutoComp offers its customers in India and China a wide portfolio of products and services through its own capabilities and joint ventures with global majors. In India, we have a very successful partnership with TRAD, which has state of the art engine cooling solutions for the passenger vehicle segment. TitanX has the latest technology in engine cooling solutions for commercial vehicles, which will help enhance our offering to our customers in commercial vehicle segment outside India. Given the challenges the auto-industry faces in emission control, this acquisition is a crucial part of our strategy of expanding globally and fortifying our presence in the cooling and emission control segments.”
Tata AutoComp Systems Limited, promoted by the Tata Group, provides products and services to the Indian and global automotive OEMs as well as tier 1 suppliers. Tata AutoComp has own capabilities in automotive interior & exterior plastics, composites, sheet metal stampings as well as engineering and supply chain. Tata AutoComp has 7 joint ventures in partnership with leading companies from the global auto component industry through which it manufactures and markets automotive components and systems. It has 33 manufacturing facilities spread across India including two in China.