Tata AutoComp to acquire TitanX


NEW DELHI: Tata Group auto segment firm Tata AutoComp Systems today said it will procure motor cooling supplier TitanX for an undisclosed total. 

"TitanX is a main motor and powertrain cooling arrangements supplier to the business vehicle industry having plants crosswise over North America, South America, Europe and China with offers of around USD 200 million. TitanX is as of now possessed by EQT Opportunity and Fouriertransform," Tata AutoComp Systems said in an announcement. 

Tata  AutoComp Systems Chairman Praveen Kadle said: "TitanX fits flawlessly into our future development zones. We are certain that under the fruitful and experienced administration in TitanX, it will be an incredible resource and will add to the development of Tata AutoComp". 

Tata AutoComp Systems MD and CEO Ajay Tandon said this securing is a significant part of the organization's technique of extending universally and sustaining nearness in the cooling and discharge control sections. 

Dealers were exhorted by BDA Partners and Tata AutoComp was prompted by Tata Capital Investment Banking. 

Subject to standard administrative endorsements, the exchange is relied upon to be finished before the end of 2016. 

Tata AutoComp Systems said TitanX serves the greater part of the western world's OEMs, including Volvo Trucks, Scania, Daimler and Iveco. TitanX has fabricating plants in Sweden, the US, Mexico, Brazil and China.

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