Tata Motors Ltd. said Tata Technologies, a provider of engineering services and manufacturing enterprise IT, had signed definitive agreements for the acquisition of US-based Cambric Corporation, a premier engineering services company.
The partnership will strengthen Tata Technologies' global footprint and domain capabilities to provide high-end engineering services to a diverse set of existing and new clients, especially in Europe. It will also provide Cambric access to the Asia Pacific region.
Cambric has three development centres in Romania and its customers include some of the world's marquee heavy machinery, agricultural, off-highway and automotive companies. It provides system level engineering and design capabilities in engine, powertrain, chassis/structures, body, electrical and hydraulic systems to its global customers, Cambric is privately held company with private equity investors holding majority stake in the company.
At the BSE, Tata Motors shares are currently trading at Rs.295.20, up 0.66 percent from the previous close.
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