Rockman Ind announces entry in carbon composites technology

LUDHIANA, JANUARY 9, 2017: Rockman Industries, the auto-components arm of the $5 billion Hero Group, today announced an entry into the carbon composites technology.

The company , a part of the Hero group was incorporated in the year 1960 in Ludhiana.

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.

Suman Kant Munjal, Chairman Managing Director, Rockman Ind said that 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.”

Ujjwal Munjal, Executive Director, Rockman Ind said that Rockman has ambitions to invest in technologies that will make it future ready, as well as, to gain entry into niche/high end applications. The motorsports, aerospace and the automobiles sectors are witnessing a disruptive shift towards carbon composites. The acquisition of a majority stake in Moldex Composites is focused on being at the forefront of this emerging new technology.”