Hero Groups Purchases Modelx Composites

Hero Groups Purchases Modelx Composites

Rockman Industries, an auto component support of $5 billion Hero Group, on Monday publicized phased acquisition of majority stake in Moldex Composites which yields carbon composites used mainly for aircraft manufacturing, motorsports and now progressively in high-end hybrid and electric cars. The present valuation of Moldex is near to Rs 100crore.

The Hero Group company stated that the asset will be part of Rs 500 crore corpuses which they have kept aside for investment in emerging technologies, mainly in carbon composite segment in the next couple of years.

“Major aerospace, then motorsports and currently automobile sectors are witnessing a disruptive shift towards carbon composites. The acquisition of a majority picket in Moldex composites is concentrated on being at the lead of this developing new technology” Ujjwal Munjal, executive director, Rockman Industries added.

Rockman Industries targets to grasp a turnover of Rs 5,000 crore by the year 2021. It made Rs 2,230 crore in revenues last fiscal.

The firm officials said that they are looking to expand Moldex’s presence international markets. Though Rockman is dynamically looking to invest in manufacturing amenities in Europe or the US, there are no tactics to start a Greenfield facility there.

On India expansion, Munjal stated that the market here is all agreed to variation tremendously in the next 5-7 years with the overview of better technologies in light of exacting regulations and customer demand. “We want to be previously there in the market when the change is happening,” he claimed.

Agreeing to industry experts, technological disruption attractive place in the motorsports, aerospace and automobile sectors is being motivated by electronics and light weight carbon composites, which are also stronger than various other materials, are playing a dynamic role.