Over the 15 years of its existence, TitanX, the Sweden-headquartered manufacturer of heat exchanger solutions, has experienced progressive growth. The company was established in 2008, when Valeo sold its three sites in Sweden and the United States, integrated within its Engine Cooling business segment, to Swedish private equity firm EQT, and a new company was created to focus on heat exchangers for commercial vehicles. In 2014, a new operational facility in Mexico was opened to support growth in North America, and a dedicated independent aftermarket organization, TitanXtend, was launched one year later.
In 2016, TitanX was sold to TATA Autocomp Systems Limited, a leading Indian auto-component conglomerate and a subsidiary of the Indian TATA Sons, and continued its business expansion. Two years later, in 2018, expansion continued with the setting up of a facility in Poland, a key stepping stone for increasing sales in Europe.
Significant contracts with leading OEMs including Volvo Trucks, PACCAR and TRATON followed, paving the way for TitanX to become a leading player in western heavy-duty truck cooling, and together with its parent company, to become a full thermal management solution provider.
Solid footing
Today, the company, employing some 1,000 people, operates manufacturing sites in Mjällby and Linköping, Sweden; Jamestown, New York, USA; Jaguariúna, Brazil; Opole, Poland and Saltillo, Mexico.
“From the very beginning, the company has focused on one particular segment – commercial vehicles. Our specialisation has enabled us to be much more focused on our customers’ needs than large companies operating in this segment, “ said company CEO Cedric Huslin.
This success has been reflected in steep business growth, he further acknowledged. “Over the 15 years of our existence, we have secured some major contracts with OEMs, specifically Volvo Trucks, which has helped us to increase our market share in the US market to 75%. In Europe, we control about 45% of the market.”
“The solid footing in the North American as well as European markets – established within a relatively short space of time – is a significant achievement for a company of our size – a result of great teamwork, agility and customer focus,” he points out.
Over the course of its existence, TitanX has developed into a world-leading supplier of powertrain cooling solutions for trucks, buses, off-highway equipment and industrial diesel engine manufacturers, serving most of the western world’s OEMs. “However, although a global player, we have remained nimble and agile, which is a major competitive advantage,” Mr Huslin affirms.
Technology shift
The ongoing shift within the transport sector towards electrification will, no doubt, impact the company and its portfolio. On the road to a more sustainable future, TitanX is expanding its thermal management product portfolio to bring forward innovative solutions for cleaner transport, focused on addressing truck-specific needs.
Together with selected development partners, focusing on complete thermal management solutions for electric and new energy vehicles, the company has developed several new systems and components: enhanced HVAC tailored for electric vehicles; electrical fan solution suitable for 12V, 24V & high voltage systems, heat pump systems as well as battery thermal management solutions.
“In terms of electrification, there is no silver bullet. Technology will evolve as the proportion of electric vehicles increases. A key decision will then be around how we can utilise the emerging opportunities,” Mr Huslin reflected.
As part of a large organisation, TitanX will use its synergies and access to new technologies. “TATA Autocomp Systems themselves are looking at new technologies, and are set to adapt the organisation to new market developments.”
Business sustainability
Mr Huslin further affirmed that the company is set to help its customers to develop zero-emission vehicles, finding the most competitive technology and bringing to market solutions to support the transformation towards greener transport.
In this context, he mentioned the application of alternative materials, such as aluminium and plastic, that can be fully recycled or green. “Increasing the share of recycled and green materials is something we are working on so that we can integrate this type of material into our products. This will provide us with another significant competitive advantage while driving the net zero carbon footprint.”
“The way forward is to make sure we can introduce and progressively increase the share of green products in the portfolio. However, in addition to climate, sustainability is based on another pillar which is important for the business identity – people. I would like to emphasise that we are acutely aware of the importance of our people and working hard to be a people-centric organisation focusing on well-being and diversity.”
“We are a multi-national company, operating in several very different countries and continents, and we promote diversity within our organization as a motor for creativity and innovation.”
Sharing the future
Looking ahead, he reflected that TitanX is going to strengthen its presence in its key markets and optimise its industrial footprint while expanding its operations, aiming at having a similar geographical presence to its major competitors.
“We will obviously continue with our existing product portfolio, which somehow protects the competitiveness of the company, generates cash flow, and enables us to sustain and increase the level of investment in R&D, focusing on developing new products in line with the electrification trend. We are on the road to a greener transport for a sustainable future.”
“We have also intensified our activity in the independent aftermarket that today generates some 20 million euros annually for us. We have our own distribution channel in Europe and our own sales team, which is very important to develop our brand.”
“In any event, we will strive to reinforce our key strengths and competencies, as a trusted, specialised supplier to leading commercial vehicle manufacturers. We have a closeness to, and understanding of, their needs, and we definitely share the same future.”
