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UT Automotive Enters India With Investment in NTTFIL

29 September 1998

UT Automotive Enters India With Investment in NTTFIL

    DEARBORN, Mich., Sept. 28 -- UT Automotive, a United
Technologies company, today announced its entry into the Indian
automotive market by acquiring a minority interest in NTTF Industries Limited
(NTTFIL).
    NTTFIL is a major producer of automotive electrical products such as
combination switches, central locking systems, junction boxes and fuse and
relay boxes.  NTTFIL also is one of India's leading commercial tool shops,
with a high level of technical capabilities for tool design, analysis and
production.
    "Our agreement with NTTFIL will provide UT Automotive with a strong
entrance into the Indian automotive market," said Al Winslow, president of UT
Automotive's Asia Pacific Operation.  "India offers UT Automotive a lot of
opportunity because it is the second most populated country in the world and
its automotive market is beginning to grow.  Expanding to India also
demonstrates our commitment to support our customers' global efforts."
    NTTFIL is a major component and switch supplier to most of the automotive
OEMs in India.  NTTFIL's tooling and mold analysis capabilities also provide
UT Automotive with the potential to significantly reduce tooling costs.
    "In addition to gaining a local manufacturing presence in India, this
investment will help us achieve significant tooling cost reductions throughout
UT Automotive worldwide operating units," Winslow said.
    NTTFIL was established in 1964 by the Nettore Technical Training
Foundation, a charitable trust, to provide a source of income to finance the
growth of technical schools.  In 1994, the business was spun off as a separate
company.
    Today, NTTFIL has nearly 1,000 employees and two production facilities --
one at Peenya-Bangalore, Karnataka, and the other at Vellore, Tamil Nadu.  The
Bangalore center also serves as the company headquarters.
    As one of the leading tooling companies in India, NTTFIL also exports its
tooling capabilities to Europe, the Middle East and the Americas.  According
to N. Reguraj, managing director of NTTFIL who will continue to lead the
company, the association with UT Automotive will enable his company to expand
its presence worldwide.
    "We look forward to entering this joint venture," Reguraj said.  "With the
support of UT Automotive, we welcome the opportunity to develop NTTFIL as a
global tooling design and manufacturing source."
    The UT Automotive group of companies is a leading tier-one supplier of
integrated systems, modules, components, and a wide variety of products and
services to car and light truck manufacturers around the world.  Based in
Dearborn, Mich., UT Automotive has more than 40,000 employees and 90
manufacturing, engineering, sales and marketing facilities in 19 countries in
North America, Europe, Asia, South America and Africa.
    The UT Automotive group is part of Hartford, Conn.-based United
Technologies Corp., which provides a broad range of high-technology products
and services to the aerospace, building systems and automotive industries.