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© escenda Business | May 08, 2017

Tata Technologies acquired Escenda Engineering

Tata Technologies has taken the step to expand its presence in Sweden with acquiring engineering and design specialist Escenda Engineering.
The automotive industry in Sweden is the country’s largest industry, employing half a million people and representing 12 percent of total country exports.

Escenda has more than 150 engineers and the company’s revenue has grown by approximately 230 percent across the last four years. Following the acquisition, Escenda Engineering AB is to be established as a 100 percent subsidiary of Tata Technologies Europe Limited. The company will maintain the same management team and full workforce under the new ownership.

Nick Sale, Chief Operating Officer of Tata Technologies Europe, said: "The acquisition of Escenda will boost our capacity in the Nordics as well as our capabilities in the automotive sector, where we already support a range of global OEMS. We look forward to offering our customers the added breadth, depth and local footprint that our combined entities provide. The acquisition is a transformational development in an important growing European market.It showcases our ability, confidence and commitment to continue to grow and enhance our operations across Europe."

Stefan Wedin, Chief Executive Officer of Escenda Engineering AB, said: "We are delighted to become a part of the Tata Technologies’ family and support their ambitious growth strategy in Europe. We look forward to working together and supporting pioneering projects through our combined deep industry knowledge and innovative approaches to product development."

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November 14 2017 8:30 PM V8.8.9-2