The Hindu Business Line : Tata Tech hopes to be $500-m co by 2010

NEW OFFERING: Mr Patrick McGolrick (right), Managing Director & CEO, Tata Technologies Ltd and Mr. Warren Harris, President & COO, INCAT, at a press conference in Mumbai on Wednesday. - - Shashi Ashiwal

Mumbai , July 26

Tata Technologies Ltd hopes to become a $ 500 million company by 2010 by expanding its services through its operating companies INCAT and I-knowledge solutions. The company, which currently has a turnover of $ 220 million, on Wednesday announced the launch of INCAT service in India.

The US-based INCAT, a provider of its product life management (PLM) services, was acquired by Tatas last year at a cost of $ 53.4 million.

The company will be offering engineering and design services to industries, primarily in the automotive, aerospace, and FMCG sector. INCAT is prominently present in Europe and Japan.

According to Mr Patrick McGoldrick, Managing Director, Tata Technologies, the engineering and design services sector is $650 billion market, of which India's share is $1.2 billion and it's growing further.

INCAT services will reduce product development time and offer superior products as per market needs, said Mr Warren Harris, Chief Operating Officer, INCAT. It has been offering its services to prominent clients such as Tata Motors especially for popular projects like the one-lakh car and other vehicle platforms that are currently under development. On the global front, the company has bagged orders for initial design development on the Airbus A380. The development for this project is partly being carried out from Pune facilities.