Tatas eye US auto-parts acquisitions
Tata AutoComp Systems Is Interested In Growing ‘In= organically’, Says Alan Rosling, ED, Tata Sons
Mike Ramsey and Gopal Ratnam = WASHINGTON
TATA Group, which is bidding for Ford Motor’s Jagu= ar and Land Rover units, may buy autoparts makers in the US, an executive said.
Tata AutoComp Systems, a supplier of vehicle components, is “intereste= d in growing inorganically” through acquisitions, Alan Rosling, executive di= rector of holding company Tata Sons, said in an interview on Wednesday in Wa= shington.
”If your customer is selling vehicles,= you can’t be supplying many parts from a different continent,” he said. “Yo= u have to have a point of presence close to the customer.” Tata AutoComp’s U= S activity is now limited to engineering and sales operations in Troy, Michi= gan. Earlier this year, Tata was among companies that expressed interest in = purchasing automotive-seat maker Lear Corp during a management-backed buyout= bid that was rejected by shareholders.
Any acquisi= tion would add to Tata’s US operations, which last year accounted for= 31% of the company’s $6.7 billion in revenue from international sales. The = value of US and European mergers and acquisitions triggered by Indian buyers= jumped 80% to $50.9 billion through June from a year earlier, according to = financial consulting firm Grant Thornton.
Mr Rosling declined to comment on Tata’s interest = in Visteon or Lear or the bid for Jaguar and Land Rover. Ford said on Wednes= day that it would announce the buyer for its UK-based luxury units by early = 2008. Tata Group chairman Ratan Tata confirmed his company’s bid for Jaguar = and Land Rover in a TV interview last month. — Bloomberg
=
ON THE HUNT
Tata AutoComp wants to have a point of presence close to customer =
The = company’s US activity is now limited to engineering and sales operations
Earlier this year, = Tatas had expressed interest in buying US automotive-seat maker Lear Corp
Tata AutoComp Systems, a supplier of vehicle components, is “intereste= d in growing inorganically” through acquisitions, Alan Rosling, executive di= rector of holding company Tata Sons, said in an interview on Wednesday in Wa= shington.
”If your customer is selling vehicles,= you can’t be supplying many parts from a different continent,” he said. “Yo= u have to have a point of presence close to the customer.” Tata AutoComp’s U= S activity is now limited to engineering and sales operations in Troy, Michi= gan. Earlier this year, Tata was among companies that expressed interest in = purchasing automotive-seat maker Lear Corp during a management-backed buyout= bid that was rejected by shareholders.
Any acquisi= tion would add to Tata’s US operations, which last year accounted for= 31% of the company’s $6.7 billion in revenue from international sales. The = value of US and European mergers and acquisitions triggered by Indian buyers= jumped 80% to $50.9 billion through June from a year earlier, according to = financial consulting firm Grant Thornton.
Mr Rosling declined to comment on Tata’s interest = in Visteon or Lear or the bid for Jaguar and Land Rover. Ford said on Wednes= day that it would announce the buyer for its UK-based luxury units by early = 2008. Tata Group chairman Ratan Tata confirmed his company’s bid for Jaguar = and Land Rover in a TV interview last month. — Bloomberg
=
ON THE HUNT
Tata AutoComp wants to have a point of presence close to customer =
The = company’s US activity is now limited to engineering and sales operations
Earlier this year, = Tatas had expressed interest in buying US automotive-seat maker Lear Corp
Source:ET
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