Latest news with #TataAutoCompSystems


India.com
8 hours ago
- Automotive
- India.com
Big move by Noel Tata, to acquire 100% share capital of…, enters into agreement with…
Auto components manufacturer Tata AutoComp Systems announced on Thursday that it has entered into an agreement to fully acquire Slovakia-based IAC Group. However, the company did not reveal the financial terms of the deal. The company, through its British subsidiary Artifex Interior Systems Limited (Artifex), has entered into a conditional agreement to acquire 100 per cent of the share capital of IAC Group (Slovakia). How Will Acquisition Help Tata AutoComp Systems? The strategic acquisition will strengthen the company's capabilities and will lay the foundation for deeper expansion across the UK and EU markets, Tata AutoComp said in a statement. The move supports the firm's ambitious growth plans, positioning the company as a significant player in the European automotive industry, in line with its vision to become the partner of choice for global OEMs, it added. Completion of the acquisition is conditional, including being subject to applicable regulatory approvals, it said. 'The acquisition of IAC Slovakia will mark a significant milestone in Tata AutoComp's global growth journey. Following our earlier acquisition of Artifex, this step strengthens our European presence and reflects our commitment to serving global OEMs more effectively,' Tata AutoComp Vice-Chairman Arvind Goel said. What Does Tata AutoComp Systems Do? Established in 1995 under the aegis of the Tata Group, Tata AutoComp Systems was founded to introduce advanced auto component technologies to India, catering to the expanding Indian automotive sector. Specializing in the design, development, manufacturing, and supply of auto-component products and services, the company operates through its various Divisions and Business Units (BUs), encompassing both Subsidiaries and Joint Ventures. (With Inputs From PTI)


Time of India
14 hours ago
- Automotive
- Time of India
Tata AutoComp to expand EU footprint with IAC Slovakia acquisition
Tata AutoComp Systems, through its UK-based subsidiary Artifex Interior Systems, has signed a conditional deal to acquire 100 per cent stake in IAC Group (Slovakia) s.r.o., strengthening its presence in Europe's automotive interior systems market . The acquisition, subject to regulatory approvals, will enhance Tata AutoComp's ability to serve global OEMs, expand capabilities, and support its long-term growth plans in the UK and EU. 'This marks a key milestone in our global journey,' said Arvind Goel, vice-chairman, Tata AutoComp. 'IAC Slovakia's strengths in operations and location will bolster our delivery capabilities.' MD & CEO Manoj Kolhatkar added that the deal offers strong synergies with existing operations, promising quicker integration and customer value. Alan Fennelly, CEO of Artifex, said the move 'strengthens expertise and opens new partnership avenues.' Tata AutoComp, part of the Tata Group, continues to scale its international footprint in line with its vision to become a leading global supplier. Tata AutoComp Systems, part of the Tata Group, currently provides products and services to Indian and global automotive OEMs and Tier 1 suppliers in the automotive systems and components space.
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Business Standard
15-05-2025
- Automotive
- Business Standard
Tata AutoComp, Katcon tie up in Mexico to make composites for NA market
Tata AutoComp Systems and Mexico-based Katcon Global have announced a joint venture to manufacture composite materials in Mexico, targeting the North American market. The new venture will focus on lightweight solutions for passenger and commercial vehicles, agricultural machinery, off-road vehicles, and select non-automotive sectors. This move marks a continuation of the two companies' 13-year collaboration in India, which has so far centred on exhaust systems and emission control technologies. The new venture is positioned as an effort to widen their international footprint, with each company bringing complementary capabilities—Tata AutoComp in technology and customer relationships, and Katcon in regulatory knowledge and local operations. The United States of America's revenue contributed approximately 13.67 per cent to the total revenue of Tata AutoComp Systems as of 31 March 2024. The venture represents Tata AutoComp's first international partnership in which it is contributing proprietary technology. The company's Composite Division, which has developed patented formulations and internal capabilities for composite compounds and sheet manufacturing, will lead on the technology front. 'Our Composite Division is taking the lead in this partnership,' said Arvind Goel, Vice-Chairman, Tata AutoComp Systems Ltd. 'This is a shift from our previous alliances where we typically licensed or adopted partner technologies.' Katcon Global Chief Executive Officer Carlos Turner said the joint venture aims to supply lightweight composite solutions tailored to evolving automotive needs in North America. 'The focus is on delivering materials that support vehicle efficiency and meet changing mobility requirements,' he noted. Tata AutoComp, part of the Tata Group, supplies components to global original equipment manufacturers (OEMs) across multiple vehicle segments, including electric vehicles. It operates through 18 business units and nine joint ventures, with 61 manufacturing facilities worldwide. Katcon, founded in 1993 and headquartered in Monterrey, provides exhaust and thermal management systems along with composite materials. It operates production and R&D centres across North America, Europe and Asia. The new Mexico-based venture is expected to strengthen both companies' manufacturing presence in North America and support OEMs in meeting weight-reduction and regulatory targets.