Tata AutoComp Systems Ltd, EQT Opportunity and Fouriertransform have entered into an agreement whereby Tata AutoComp Systems Limited will acquire TitanX.
Read the press release about the acquisition
A message from the CEO
It is with great excitement that we announce the acquisition of TitanX by Tata AutoComp Systems Limited, promoted by the Tata Group and one of India’s leading auto-component conglomerates.
TitanX will continue to operate as a separate entity within Tata AutoComp. As the new owner of TitanX, Tata AutoComp will take a long-term strategic view and enable us to the next steps in our growth strategy. The acquisition gives TitanX great opportunities to further strengthen our role as a global partner of advanced cooling solutions of powertrains to our customers.
Apart from a clear strategic fit, TitanX and Tata AutoComp also share a common view of what values and culture that should be guiding the business.
Our customer focus will stay the same where we create value by remaining focused on commercial vehicles, participating in advanced engineering projects, providing best-in-class heat exchangers and integrating them into customer cooling systems. Additionally, we will continue to add value by being agile and flexible about reacting fast to customer needs and by continuously improving our operations with focus on quality, cost and delivery.
Stefan Nordström, CEO
What is the main rationale of the acquisition?
TitanX fits perfectly into the growth strategy of Tata AutoComp, which has a focus to expand globally and fortifying its presence in the Cooling and Emissions segments. At the same time, TitanX and Tata AutoComp will be working together to enhance purchasing and operational efficiency.
Will there be any changes for me as a customer?
No. TitanX and Tata AutoComp share the same values and long-term commitment to customers and markets. Just as before, we will continue our long-term relationships and manufacturing of state of the art powertrain cooling solutions from our sites in Sweden, the US, Mexico, Brazil and China. Also, there will be no changes in TitanX management or key personnel, which will assure seamless continuity in all present and future dealings.
Will you change your name?
No, TitanX and everything that it represents will stay the same.
About Tata AutoComp
Tata AutoComp Systems Limited (Tata AutoComp), 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 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 including two in China. For more information, please visit www.tacogroup.com