Hero Group arm picks stake in UK’s MCT Engineering

Financial Express
March 07, 2018

Rockman Industries, the auto-components arm of the $6-billion Hero Group, on Tuesday announced the acquisition of a strategic stake in the UK’s MCT Engineering through its arm Moldex Composites, for an undisclosed sum.
The acquisition is part of Rockman’s strategy to be a front-runner in emerging technologies and to expand footprint in the European and US markets.
MCT Engineering is the UK’s specialist carbon-composites manufacturer, producing high-quality and innovative components for automotive, motorsport and defence industries.
MCT’s clients include marquee motorsports and high-end luxury car makers such as Jaguar Land Rover and other European brands.
In early 2017, Rockman had acquired a majority strategic stake in Moldex Composites, a British-Indian enterprise engaged in design and manufacturing of advanced composites, for Rs 100 crore. This partnership complements MCT’s existing capabilities by giving it access to Moldex’s expertise in cost-effective advanced composites manufacturing as well as in-house design and production of patterns and moulds, said a press release.
Rockman Industries’ Moldex Composites supplies composite components from India, with 99% of output exported across the world to premier racing series in North America and other marquee automotive and motorsports customers in the UK and Europe. The Moldex-MCT collaboration has already started supporting and supplying to a number of JLR programmes in the UK, together with other regular volume projects from India.
“The future belongs to carbon composites. We expect it to account for 10% of Rockman Industries’ turnover by 2022.
Moldex Composites’ strategic stake in MCT Engineering allows Rockman Industries to leverage the advanced technology and to expand presence in the global aerospace, motorsports and automotive businesses,” said Suman Kant Munjal, CMD, Rockman Industries.
“We are proud to announce Moldex Composites’ partnership with MCT Engineering. The partnership will be beneficial for our global customers as it will increase our capabilities to handle turnkey packages involving end-to-end solutions from design to FEA, manufacturing and testing of crash structures, bodywork, wings, suspension, engine ancillaries, seating and frame assemblies,” said Parag Rajda, MD director and co-founder, Moldex Composites.
The acquisition brings together the market reach of MCT and the cost effective, yet comprehensive manufacturing expertise of both Rockman Industries and Moldex Composites. The partnership gives Moldex Composites’ global customers the flexibility to outsource for quick turnaround and long production runs from a single source.
MCT has been supplying advanced composites to the UK and Europe’s leading luxury and sports car makers for over 20 years. The company’s facility, situated close to Silverstone Racing Circuit in UK, focuses primarily on cosmetic components and short production runs with quick turnaround times.
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