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Tata AutoComp, Katcon form JV to make advanced composites for North America
Tata AutoComp, in a statement, said the venture will specialise in lightweight applications for passenger and commercial vehicles, agricultural tractors, off-road vehicles, and specialised non-automotive segments.
A global supplier to the automotive industry, Katcon Global specialises in exhaust systems, thermal insulation and advanced materials components. The company operates with 11 manufacturing facilities and five technology centres spread across eight countries.
The two companies already have an over-decade-long collaboration for exhaust systems and emission after-treatment solutions.
In the venture, Tata AutoComp said, it brings technological leadership and customer relationships, while Katcon contributes operational excellence, regulatory expertise, and strong local execution capabilities.
The latest joint venture is a significant step aligned with both companies' strategic vision to expand their global footprint and serve global customers through advanced, sustainable materials.
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"It is the first time we are entering a partnership where we are contributing the core technology, what we see as a reverse model compared to our previous alliances. Our composite division brings proprietary technology, including patented formulations and in-house capabilities for composite compounds and sheet manufacturing," said Arvind Goel, Vice Chairman of Tata AutoComp Systems Ltd.
"By combining Katcon's advanced composite technologies with Tata AutoComp's deep industry expertise, we are well-positioned to deliver innovative, lightweight solutions that address the evolving needs of the North American automotive market," said Carlos Turner, CEO, Katcon.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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