NEW DELHI: Hero Group Rockman Company Industries today, in line with its strategy, opened the first office of its composites subsidiary Moldex outside India.

In a statement, Rockman Industries said, “The new office will focus on expanding our carbon composites business by increasing market penetration, especially in the US and Europe.”

Suman Kant Munjal, chairman and managing director of Rockman Sumanstris, said the company expects carbon composites to account for about 10 percent of its sales over the next five years.

He also said that apart from racing and aerospace, the global automotive industry is also transitioning to carbon fiber.

The company aims to penetrate more deeply into various sectors, including automotive, to be at the forefront of this technology.

Monjar added: “The opening of our UK office is a step in that direction as it gives us access to the heart of European motorsport.”

Earlier this year, Rockman Industries acquired Moldex Composites, an Anglo-Indian carbon composite design and manufacturing company, as part of its diversification strategy.