Tata AutoComp in pact with Japanese co to set up R&D unit

Newswire

MUMBAI, May 25 (Reuters) - Tata AutoComp Systems has signed an agreement with Japanese heat exchanger maker TRAD to set up a research and development centre at Pune in the western state of Maharashtra to develop technology for the Indian automotive market. Investments were not disclosed. Tata AutoComp had in December last year filed papers for an initial public offering of shares, including a fresh issue, to raise up to 7.5 billion rupees. (Reporting by Aniruddha Basu;Editing by Sunil Nair)

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