What does a $360m capital injection mean for Tata Technologies?

CEO Warren Harris discusses Tata Technologies’ $360m capital injection from a US-based private equity firm, in return for more than 40% of its shares.

Warren Harris, CEO, Tata Technologies.
Warren Harris, CEO, Tata Technologies.

The company behind many of the new products in the global automotive sector, Tata Technologies, has received a $360m capital injection from the US-based private equity firm Warburg Pincus, in return for 43% of its shares.

Tata Technologes employs 8,500 people around the world, working out of 23 locations, and predominantly provides clients in the automotive, aerospace and heavy engineering sectors with concept-to-product outsourced engineering, technology and product lifecycle management (PLM) services.

Tata Technologies was predominantly an India-focused company until in 2004 when it merged with the UK firm Incat International, which boasted a global client list, mainly in automotive.

The cash injection from Warburg Pincus is designed to accelerate Tata Technologies’ plan to dominate the global outsourced engineering sector, as CEO Warren Harris explained to Nick Peters, editorial director of The Manufacturer.