TACO targets $ 1 bn turnover by 2008

PUNE: Tata AutoComp Systems Limited (TACO) is looking at reaching the $ 1 billion turnover figure by year 2008. The company currently has recorded $ 500 million turnover for the current year and hopes to grow 100 per cent in the next couple of years.

Addressing a press conference at the 10th anniversary celebrations of the company, Taco MD D S Gupta said the company was entering its second phase of growth and was looking at becoming a global supplier by the year 2015. Over 17 joint ventures and technology partners of Taco showcased the future automobile technologies developed for global auto giants.

Gupta mentioned the company was keenly looking at larger acquisitions for growth. Taco recently acquired the German automotive components supplier Wundsch Weidinger.

The company is looking at three areas for growth — starting new joint ventures, increasing its presence in the engineering services segment and expanding the export market. Gupta said that services and products were the core strength areas of the company. Engineering services currently account for Rs. 100 crore. Gupta felt that the combination of manufacturing as well as outsourcing gave the company an added advantage over companies focusing on services alone since there was more control over the cost and delivery factor.