Tata AutoComp completes acquisition of TitanX Engine Cooling
Tata AutoComp Systems Limited, a leading Indian auto-component conglomerate, has announced completion of the acquisition of TitanX - a leading global engine cooling supplier headquartered in Sweden.
The acquisition agreement was signed in August 2016, and now, all regulatory instances in Europe and India have approved the deal. The change of ownership took place Dec 28, 2016.
“We are eager to start working with our new owner, confident that their long-term strategic view will enable us to take the next steps in our growth strategy” said Stefan Nordström, CEO of TitanX. “Tata AutoComp will give us opportunities to further strengthen our role as a global partner of advanced cooling solutions of powertrains to our customers.”
TitanX has a unique position in the Powertrain Cooling industry since it is the only player fully dedicated for commercial vehicles and gensets. In eight years, TitanX has grown from three plants carved out from Valeo to a global player with six plants that today serves most of the western world’s OEMs, including Volvo, Scania, Daimler, and Iveco.
Please find enclosed the press release about the completion of the acquisition.
For more information about TitanX:
Stefan Nordström, CEO TitanX
Tel: + 46 31 727 69 50
Tatiana Temm, Director Group Communications
Tel: +46 735 42 11 51, E-mail: firstname.lastname@example.org