January 22, 2024
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Titan now manufactures high precision components for Aircrafts
What started as an attempt to make machines to produce precision components for Titan watches in India in the early 1990s has now evolved into a global manufacturer of high precision components for aircraft. And almost any car on Indian roads also will have a part developed by Titan Engineering & Automation Limited (TEAL), a wholly owned subsidiary of Titan Company Limited. It recently announced an investment of Rs. 430 crore at Hosur, where it was born as an in-house engineering team, three decades ago.
In 1993-94, Titan Watches, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (Tidco), decided to produce the machines to make precision components for watches. The objective was to reduce dependence on imports. Five individuals from the maintenance team were chosen to design 50-60 machines that were vital for producing parts for quartz watches. Sourcing technology from two top international watch makers, Titan made these machines at Hosur.
Automotive solutions division
TEAL CEO Sridhar Neelakantan, says “What we call Atmanirbhar Bharat programme today was started in 1993-94 itself.” After making components only for Titan for about a decade, the company turned its focus to the larger automotive market outside the Tata Group. Delphi TVS came as an opportunity to test its capabilities, a year after a separate division for ‘automotive solutions’ was created in 2004. The attempt clicked in 2005 with TEAL successfully making an assembly line for Delphi TVS. The ‘automotive solutions’ division offers assembly lines to factories in multiple sectors such as automobile, energy, engineering, electronics, healthcare and life sciences.
Becomes Separate company in 2017.
TEAL became a separate company in 2017. It has established a design and service facility in Pune, besides setting up offices in Germany and the US in 2019 and 2021 respectively. In 2020, it further diversified to produce components for wafer fab equipment used for manufacturing semiconductors.
Neelakantan, who has been associated with TEAL for 22 years, says, “Our core strength is precision and attention to detail because we make high precision components with an accuracy of one thousandth of a millimetre. We are bullish on a strong domestic presence over the next 10 years.”
The company recorded a revenue of Rs. 500 crore in FY23. It has 2,000 employees at present, and the investment of Rs.430 crore over the next five years is expected to generate another 1,400 jobs.
More than 150 cliens most of them international firms
Today, this division has more than 150 cliens most of them international firms, such as Bosch, GE Healthcare, Renault Nissan and Pepsico. The company has created turnkey assembly and testing solutions for a range of products including insulin pen, masks, blood bags, diapers, capacitors, solar wafer, blades, jewellery, dispensers, pencils, wiper, power meter, battery, clutch servo and brake cylinder. On an average, TEAL engages in 50-60 projects every year. So far, it has completed more than 750 projects in 18 countries across America, Europe and Asia. “It gives us great pride that Germany, the land of engineering, has an automated system that comes from India,” says Neelakantan.
Next phase..manufacturing high precision components for aircraft
With a strong foundation and ample experience, TEAL stepped into the next phase of expansion — manufacturing high precision components for aircraft. These components are used in the engines of A320neo and helicopters. The company carved out a second division called ‘manufacturing services’. “From making machines for industrial houses, we went on to manufacture the end product. Our high precision components were also used in Isro’s PSLV in the past,” he says. Safran, one of the world’s largest aircraft equipment manufacturers, Pratt & Whitney Canada, a global major in aircraft engines, and India’s own HAL are among TEAL’s clients in the manufacturing services business.
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