Photo Caption: (L to R) - Dr. Rob Neumann (Director - Moldex Composites
Pvt. Ltd.); Suman Kant Munjal (Chairman & MD - Rockman Industries Ltd.);
Ujjwal Kant Munjal (Executive Director - Rockman Industries Ltd.); Parag Rajda
(MD - Moldex Composites Pvt. Ltd.); Ian A Thomson (Technical Director - Moldex
Composites Pvt. Ltd.)
Rockman
Industries, a Hero Group company has acquired a majority stake in Moldex
Composites, a British-Indian venture, thereby making its intention known that
it is investing in next-gen carbon composites technology. The company also plans to diversify into
motorsports, aerospace and high-end automotive components manufacturing. It is
targeting a Rs 5000 crore turnover by 2021.
Carbon
composites will be accounting for 10pc of Rockman Industries revenue in next
five years.
Globally,
carbon composites are beginning to replace conventional aluminium and steel.
This shift, which has already gained significant momentum in motorsports and
aerospace, is now making inroads into automobiles. In preparation Rockman
Industries, the auto-components arm of the $5 billion Hero Group, has announced
an entry into the carbon composites technology. Rockman has acquired a majority
stake in Moldex Composites, a Gujarat-based British-Indian design and
manufacturing company. Moldex Composites provides world-class and advanced
carbon composites to USA’s premier motor racing series. This diversification is
a part of Rockman’s strategy to be a front runner in emerging technologies.
The technological disruption taking place in
the motorsports, aerospace and automobiles sectors is being driven by
electronics and lightweighting. Motorsports and Aerospace industries are at the
forefront of the move towards shedding weight and carbon composites are playing
a vital role. Reduction in weight translates into airplane carrying larger
payload for longer distances while reducing emissions, at the same time it
helps motorsports vehicles accelerate and travel faster. This acquisition
creates a nucleus for Rockman to leverage the technology and to expand presence
in the global aerospace, motorsports and automotive businesses.
“Anticipating and preparing for changes is
built into Rockman’s DNA. Our investment into the carbon composites technology
is aimed at pre-empting the global shift towards carbon fibre in automobiles,
besides an entry into motorsports and aerospace. The move is also a part of our
diversification strategy aimed at a turnover of Rs. 5000 crore by 2021. Carbon
composites is expected to account for 10% of Rockman Industries turnover in the
next five years,” says Suman Kant Munjal, Chairman Managing Director, Rockman
Industries.
Moldex is a phased acquisition, which will be
at an ultimate valuation close to Rs. 100 crore. Rockman is looking to expand
Moldex’s presence in Europe and US and has already started a sales office in
the UK and is building a sales team. A senior sales person to lead the team in
Europe has also joined at the London office. In the next three months, the
company is looking to have presence in the US as well. Rockman is actively
looking to invest in manufacturing facilities in Europe or USA. However, there
are no plans to start a greenfield manufacturing facility there. The focus in
both Europe and USA is to grow the existing business, which is motorsports, and
then gradually get into aerospace as well as high-end premium, luxury and
sports cars.
Rockman Industries, a part of the Hero group
was incorporated in the year 1960 in Ludhiana. Today, the company is amongst
the leading auto components companies in India with plants in Ludhiana, Bawal,
Hardwar and Chennai. Rockman supplies Aluminium die casting components and
automotive chains to some of the leading automobile OEMs in India and overseas.
It is also an industry leader in two-wheeler alloy wheels in India with
installed capacity of 5.6 million wheels annually.