Rockman Industries’Moldex Compositespicks up stake in MCT Engineering Ltd
Rockman Industries, the auto-components arm of the $6 billion Hero Group, today announced the acquisition of a strategic stake in UK’s MCT Engineering through Moldex Composites. MCT Engineering is 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 like Jaguar Land Rover and other British and European brands. The acquisition is part of Rockman’s strategy to be a front-runner in emerging technologies and to expand footprint in European and US markets. 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. 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.
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 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 two companies together have the vision to be “A global composites market player” and “The number one choice” for high performance composite solutions. The Moldex-MCT partnership is able to offer end-to-end solutions to their customers from detailed design, mould and patterns manufacturing to bespoke products, prototypes and short runs as well as volume production.
“The future belongs to carbon composites. We expectit to account for 10% of Rockman Industries’ turnover by 2022. Moldex Composites’ strategic stake in MCT Engineeringallows Rockman Industries to leverage the advanced technology and to expand presence in the global aerospace, motorsports and automotive businesses,” says Mr. Suman Kant Munjal, Chairman and Managing Director, Rockman Industries.
“We are proud to announce Moldex Composites’ partnership with UK’s 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 etc.,” says Parag Rajda, MD 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. Utilising the combined strengths and experience of the Indian and the UK technical teams, the partnership now has the capabilities to handle turnkey packages including design, FEA, manufacture and testing of crash structures, bodywork, wings, suspension, engine ancillaries, seating and frame assemblies etc.
MCT has been supplying advanced composites to 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. MCT has technical partnerships with customers and end users, design and innovation houses and material suppliers across Europe, in the UK and globally.
Moldexis backed by advanced composites design and manufacturing experience of more than five decades of its two British founders and able team in India. It can take full ownership of customers composites requirements and bea one-stop-solution – from prototypes to volume runs – covering detailed design, material choice, laminate design, in-house patterns and mould design, jigs design and manufacturing – all at a competitive cost.