Tata AutoComp Systems Limited, to acquire TitanX – a global engine cooling supplier. TitanX is an 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 USD 200 million. TitanX is currently owned by EQT Opportunity and Fouriertransform.
Speaking on the occasion, Mr Praveen Kadle – Chairman Tata AutoComp Systems Limited 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.”
Mr 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 JV with global majors. In India, we have a 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.”
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