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Indian auto specialist acquires Moldex
BUSINESS
‘While our company has operated a number of offices and manufacturing locations throughout the United States, our headquarters has been in Knoxville,’ said Peter
Reinforced Plastics Volume 61, Number 2 March/April 2017
Hedger, president and CEO of Magnum Venus Products. ‘This is a great location for us with all of the exciting businesses that have moved here in recent years,
especially the large number of compositerelated businesses.’ MVP; www.MVPInd.com
Indian auto specialist acquires Moldex
BUSINESS
Auto components supplier Rockman industries, part of the Hero Group, has acquired a majority stake in Moldex Composites, a Gujarat-based British-Indian design and manufacturing company. Moldex Composites supplies carbon composites to motor racing in the USA. ‘Our investment into the carbon composites technology is aimed at pre-empting the global shift toward carbon fiber in automobiles, besides an entry into motorsports and aerospace,’ said Suman Kant Munjal, chairman and managing director, Rockman Industries. ‘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.’ Moldex is a phased acquisition, which will be at an ultimate valuation close to Rs 100 crore, he said. 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. Rockman is actively looking to invest in manufacturing facilities in Europe or USA
with a focus on growing existing business, which is motorsports, and then gradually move into aerospace as well as high-end premium, luxury and sports cars.
Composite advantages
According to Suman Kant Munjal, chairman and managing director, Rockman Industries, carbon composites is expected to account for 10% of Rockman Industries turnover in the next five years.
‘Carbon composites are replacing conventional aluminum alloys and steel components in aerospace, motorsports, automobiles, medical and defense applications,’ said Ian Thomson, co-founder, Moldex Composites. ‘These composite materials ensure reduction in complete life cycle costs not only due to their lower weight but also longer life reducing down-time of whatever they are fitted to. The advantages of composites are lower weight, higher performance, good fatigue, good corrosion resistance and their ability to be readily formed into complex shapes and fully integrated structures with less capital expenditure in tooling. A typical carbon composite would provide same strength as steel or aluminum with one-fourth of the weight of steel and half the weight of aluminum.’ Rockman Industries; www.rockman.in
LM Wind Power aims to become carbon neutral by 2018 LM Wind Power, a manufacturer of wind turbine blades, has pledged to be carbon neutral by 2018, making it one of the first in the wind industry to take such a step. It will begin by sourcing 100% of its electricity from renewable energy sources during 2017. LM Wind Power has produced more than 185,000 blades since the company began blade operations in 1978. This corresponds to approximately 77 GW of installed wind power capacity which each year effectively replaces approximately 147 million tons of CO2. ‘When we signed the UN Global Compact in 2010, we argued that LM Wind Power
70
might be the greenest company in the world with more than 20% of all turbines worldwide flying LM blades,’ said CEO, Marc de Jong. ‘But we also asked some tough questions – are we really green enough? It’s a paradox that the industry has not addressed this more coherently before. Could we not reduce our own carbon footprint further and do even more to nurture the growth of wind energy globally?’ The three main components of LM Wind Power’s carbon neutral program, entitled ‘CleanLM’ are: Reductions in the company’s carbon emissions through operational
efficiencies, for example, an internal drive to reduce energy consumption and waste. Using 100% renewable electricity, particularly from wind, in conjunction with partners and customers and effective from 2017. Offsetting remaining emissions through carbon credits and building low carbon sustainable development through the delivery of clean and renewable energy for communities in developing countries.
LM Wind Power; www.lmwindpower.com
‘While our company has operated a number of offices and manufacturing locations throughout the United States, our headquarters has been in Knoxville,’ said Peter
Reinforced Plastics Volume 61, Number 2 March/April 2017
Hedger, president and CEO of Magnum Venus Products. ‘This is a great location for us with all of the exciting businesses that have moved here in recent years,
especially the large number of compositerelated businesses.’ MVP; www.MVPInd.com
Indian auto specialist acquires Moldex
BUSINESS
Auto components supplier Rockman industries, part of the Hero Group, has acquired a majority stake in Moldex Composites, a Gujarat-based British-Indian design and manufacturing company. Moldex Composites supplies carbon composites to motor racing in the USA. ‘Our investment into the carbon composites technology is aimed at pre-empting the global shift toward carbon fiber in automobiles, besides an entry into motorsports and aerospace,’ said Suman Kant Munjal, chairman and managing director, Rockman Industries. ‘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.’ Moldex is a phased acquisition, which will be at an ultimate valuation close to Rs 100 crore, he said. 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. Rockman is actively looking to invest in manufacturing facilities in Europe or USA
with a focus on growing existing business, which is motorsports, and then gradually move into aerospace as well as high-end premium, luxury and sports cars.
Composite advantages
According to Suman Kant Munjal, chairman and managing director, Rockman Industries, carbon composites is expected to account for 10% of Rockman Industries turnover in the next five years.
‘Carbon composites are replacing conventional aluminum alloys and steel components in aerospace, motorsports, automobiles, medical and defense applications,’ said Ian Thomson, co-founder, Moldex Composites. ‘These composite materials ensure reduction in complete life cycle costs not only due to their lower weight but also longer life reducing down-time of whatever they are fitted to. The advantages of composites are lower weight, higher performance, good fatigue, good corrosion resistance and their ability to be readily formed into complex shapes and fully integrated structures with less capital expenditure in tooling. A typical carbon composite would provide same strength as steel or aluminum with one-fourth of the weight of steel and half the weight of aluminum.’ Rockman Industries; www.rockman.in
LM Wind Power aims to become carbon neutral by 2018 LM Wind Power, a manufacturer of wind turbine blades, has pledged to be carbon neutral by 2018, making it one of the first in the wind industry to take such a step. It will begin by sourcing 100% of its electricity from renewable energy sources during 2017. LM Wind Power has produced more than 185,000 blades since the company began blade operations in 1978. This corresponds to approximately 77 GW of installed wind power capacity which each year effectively replaces approximately 147 million tons of CO2. ‘When we signed the UN Global Compact in 2010, we argued that LM Wind Power
70
might be the greenest company in the world with more than 20% of all turbines worldwide flying LM blades,’ said CEO, Marc de Jong. ‘But we also asked some tough questions – are we really green enough? It’s a paradox that the industry has not addressed this more coherently before. Could we not reduce our own carbon footprint further and do even more to nurture the growth of wind energy globally?’ The three main components of LM Wind Power’s carbon neutral program, entitled ‘CleanLM’ are: Reductions in the company’s carbon emissions through operational
efficiencies, for example, an internal drive to reduce energy consumption and waste. Using 100% renewable electricity, particularly from wind, in conjunction with partners and customers and effective from 2017. Offsetting remaining emissions through carbon credits and building low carbon sustainable development through the delivery of clean and renewable energy for communities in developing countries.
LM Wind Power; www.lmwindpower.com