Rockman Industries, the auto-components arm of Hero Group, announced the opening of the UK office, the first outside India for its composites subsidiary, Moldex. The office is located in Silverstone, UK, and is in the midst of high-performance technology and motorsport businesses. Silverstone is the hub of motorsport activities in Europe with a number of racing competitions including Formula One being held in the circuit. The new office will focus on expanding the carbon composites business by increasing market penetration, especially in the USA and the European markets. In early 2017, Rockman Industries acquired Moldex Composites, a British-Indian carbon-composites design and manufacturing company as a part of group’s diversification strategy.
Globally, motorsports and aerospace industries are leading the move towards shedding weight with carbon composites playing a vital role. Reduction in weight translates into airplanes carrying larger payloads for longer distances while reducing emissions. At the same time, it helps motorsports vehicles accelerate and travel faster.
Speaking on the occasion, Suman Kant Munjal, Chairman Managing Director, Rockman Industries, said that they expect carbon composites to account for about 10% of Rockmans’ revenue in the next five years. Besides motorsports and aerospace, there is a global shift towards carbon fibre in the automobiles sector. At Rockman Industries they want to be at the forefront of this technology as it further penetrates different sectors including automotives. The opening of the UK office is a step in that direction as it gives tgem access to the centre of motorsports in Europe.
“At Rockman Industries, we are aiming to make inroads into the global carbon composites markets. The opening of the UK office in Silverstone, the home of UK motor racing, showcases our commitment to lead this new technology sector. Our team would be targeting the European and the American markets through this office.” said Ujjwal Munjal, Executive Director, Rockman Industries.