Tata Autocomp Systems Limited To Acquire TitanX Engine Cooling

Tata Autocomp Systems Limited To Acquire TitanX Engine Cooling
Tata AutoComp Systems Limited is all set to acquire TitanX – a leading global engine cooling supplier. TitanX supplies engine and powertrain cooling solutions to the commercial vehicle industry and has across North America, South America, Europe and China with sales of approximately $200 million. Currently owned by EQT Opportunity and Fouriertransform, the company will be acquired by Tata AutoComp Systems Limited by the end of 2016.Tata AutoComp has 7 joint ventures in partnership with companies from the Global Auto Component Industry. It has 33 manufacturing facilities spread across India including two in China. It manufactures 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.

TitanX has manufacturing plants in Sweden, USA, Mexico, Brazil and China and Tata will benefit from this acquisition as the company is a supplier of supplier of powertrain cooling solutions for commercial vehicles to OEMs like Volvo Trucks, Scania, Daimler and Iveco.

Ajay Tandon, MD & CEO Tata AutoComp Systems Limited 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.”

 

 

[“source-ndtv”]