Tata AutoComp to acquire TitanX
Tata AutoComp Systems Limited, a leading auto-component conglomerate, is to acquire TitanX, a leading global engine cooling supplier to the Commercial Vehicle industry. The transaction is expected to be completed by the end of 2016. TitanX has plants across North America, South America, Europe and China with sales of approximately $ 200 million. It is owned by EQT Opportunity and Fouriertransform. The company serves most of the western world’s OEMs, including Volvo Trucks, Scania, Daimler and Iveco. Praveen Kadle, Chairman, Tata AutoComp Systems said, “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 said,“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 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 like engine cooling solutions, automotive batteries, rear view 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. Tata AutoComp has 33 manufacturing facilities spread across India and 2 in China.