Moldex Composites, the carbon composites technology arm of auto components firm, Rockman Industries, has set up an office in the UK. The Gurgaon based Hero group company has made the move with an aim to enter into Europe and the USA. “We just opened an office in the UK at Silverstone for our carbon composite business. Silverstone is a hub for motorsport development in terms of technology. The idea is to be closer to customers and have a team over there to forge partnerships and look at acquisitions, joint ventures, etc.,” said Ujjwal Munjal, executive director, Rockman Industries Ltd. In the past one year, Ujjwal, son of Suman Kant Munjal and grandson of Hero Group founder Brijmohan Lall Munjal, also acquired a semi-conductor business and an electronics design services business.
In a bid to reduce vehicle weight and emissions, increasingly automobile manufacturers are using components made by carbon composites replacing aluminum and steel parts. Moldex expects this to be the growing trend. The group is further interested to grow the Moldex Composites’ business in the aerospace sector. It hopes to get aerospace standard certification within the current quarter.
Source: Live Mint, May 3, 2017.