Rockman Targets US, European Markets for Carbon Composites Biz
Its composites subsidiary, Moldex, has opened its first office outside India at Silverstone, the home of Formula One in the UK.
Image used for representation (Image: The Hero Group)
Hero Group company Rockman Industries is looking to expand its carbon composites business by increasing penetration in global markets, especially in the US and Europe.
In line with its strategy, the auto component maker today said its composites subsidiary, Moldex, has opened its first office outside India at Silverstone, the home of Formula One in the UK.
"The new office will focus on expanding the carbon composites business by increasing market penetration, especially in the USA and European markets," Rockman Industries said in a statement.
Rockman Industries, Chairman & Managing Director, Suman Kant Munjal said “the company expects carbon composites to account for about 10 percent of its revenue over the next five years.”
He further said “there is a global shift towards carbon fibre in the automobiles sector, apart from motorsports and aerospace. The company is aiming to be at the forefront of this technology by penetrating deeper into different sectors including automotives.”
"The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports in Europe," Munjal added.
Earlier this year, Rockman Industries had acquired Moldex Composites, a British-Indian carbon-composites design and manufacturing company, as part of its diversification strategy.
Recommended For You
- Most Epic Selfie Ever? This Monkey Just Photobombed a Family's Vacation Photo and It's Hilarious
- 18 Years of Lagaan: Aamir Khan Shares Emotional Post and Thanks Ashutosh Gowarikar
- Fact Check: Did ‘Game of Thrones’ Copy Arya Stark Slaying the Night King Sequence from an Indian Show?
- Ranveer Singh Wishes 'Papa' on Father's Day 2019 with a Throwback Picture and Millennial Hashtags
- Ahead of India Vs Pakistan Clash in the ICC World Cup 2019, Bollywood Memes Are a Hit
- 01 d
- 12 h
- 38 m
- 09 s