TEAL to invest ₹430 Crore in Hosur

Titan Engineering & Automation Limited (TEAL) ), a wholly owned subsidiary of Titan Company Limited, will invest 430 crore at Hosur.

It is signing an MoU with the state government at GIM 2024. Of this, 200 crore would be for the wafer tab equipment manufacturing facility. Wafer tab is used for manufacturing semiconductors.

 Sridhar Neelakantan, CEO, TEAL, told TOI on Sunday that the company has set aside CAPEX for the next five years. “The move will generate employment for an additional 1,400 people. Currently, 2,000 employees are working in our facility,” he said. The remaining 230 crore is being invested in the automation and manufacturing services businesses of the company.

TEAL has three lines of business automation, manufacturing services, which is largely aerospace and defence, and wafer tab. It was set up as an in-house engineering team for high precision component manufacturing and designing watches in 1990. 

Later it got into manufacturing automation machines. Now, the team has full-fledged machine building and automation and component manufacturing businesses catering to the global markets.

Every vehicle on Indian roads has a solution or system that is associated with TEAL, Neelakantan said. “The entire investment is made only in Hosur and we are not looking anywhere else in the state,” he added. The company is headquartered in Hosur.