Tata AutoComp Systems has announced that it is to acquire TitanX, a leading global engine cooling supplier which caters to most of Europe's commercial vehicle OEMs.
16 Aug 2016 | 6482 Views | By Autocar Pro News Desk
Tata AutoComp Systems has announced that it is to acquire TitanX, a leading global engine cooling supplier to commercial vehicle manufacturers.
This acquisition will help expand the Tata Group company’s engine cooling product portfolio to the commercial vehicle segment.
TitanX, which has manufacturing plants in Sweden, USA, Mexico, ...
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Tata AutoComp Systems has announced that it is to acquire TitanX, a leading global engine cooling supplier to commercial vehicle manufacturers.
This acquisition will help expand the Tata Group company’s engine cooling product portfolio to the commercial vehicle segment.
TitanX, which has manufacturing plants in Sweden, USA, Mexico, Brazil and China, caters to most of Europe’s commercial vehicle OEMs including Volvo Trucks, Scania, Daimler and Iveco. The company, which has sales of approximately US$ 200 million (Rs 1,263 crore), is currently owned by global private equity group EQT Opportunity and Fouriertransform.
According to Praveen Kadle, chairman, Tata AutoComp Systems, “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.”
Ajay Tandon, MD and CEO, Tata AutoComp Systems, 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 the 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’s product portfolio
Tata AutoComp Systems is a global products and services supplier to Indian and global automotive OEMs as well as Tier 1 suppliers. It has its own capabilities in automotive interior and exterior plastics, composites, sheet metal stampings as well as engineering and supply chain.
Tata AutoComp, which has 33 manufacturing facilities spread across India including two in China, has 7 joint ventures in partnership with leading companies from the global auto component industry through which it manufactures and markets components and systems like engine cooling solutions, automotive batteries, rearview mirrors, command systems, HVAC, exhaust and emission control systems for passenger and commercial vehicles as well as seating systems and suspensions for heavy commercial vehicles.