US: NEW FUEL SYSTEMS CONTRACT FOR TI GROUP

Article Abstract:

A contract worth US$ 120mn a year for the provision of low emission fuel systems to a US car manufacturer has been won by TI Group. TI acquired the US components supplier Walbro in June 1999, and has since been capable of providing complete fuel systems, including tank and vapour lines. The new contract is considered to have justified the US$ 350mn paid by TI for Walbro. TI, which is 5% owned by the US venture capitalists KKR, stated that new environmental regulation by the government including plans to cut the limits for fuel evaporation and leaking by 90% in 2004, is driving growth and development in the US automotive components industry.

Automobiles, Automobile Manufacturing, Use of materials & supplies, Auto Fuel & Lubricating Systems, Gasoline Engine and Engine Parts Manufacturing, Pollution control industry, Automobile industry, TI Group, Walbro Corp.

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US: PILKINGTON DROPS VISTEON TAKEOVER

Article Abstract:

The UK glass producer, Pilkington, announced 3 November 2000 that it has dropped plans to acquire Visteon, its US rival. It is understood talks were dropped by mutual consent after both sides failed to resolve a number of issues. It is thought that Pilkington was concerned about the status on contracts Visteon holds with the US carmaker, Ford.

Asset sales & divestitures, Acquisitions & mergers, STONE, CLAY, AND GLASS PRODUCTS, Glass Products, Glass and Glass Product Manufacturing, Mergers, acquisitions and divestments, Glass industry, Pilkington PLC, Glass, Visteon Automotive Systems

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UK: TI GROUP GAINS MERCEDES ORDER

Article Abstract:

TI Group will provide airbags, break lines and fuel storage and delivery systems for the Mercedes C-Class vehicle, it was revealed on 12 May 2000. The deal is valued at GB[pound] 200mn to UK-based TI.

Engine electrical equipment, Automotive Electronics, Other Motor Vehicle Electrical and Electronic Equipment Manufacturing, Auto Ride Control & Safety Systems, Auto Brakes, Motor Vehicle Brake System Manufacturing, Automotive brakes, TI Group PLC

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