TI Automotive said it has acquired the electric fuel pump division
of Kolbenschmidt Pierburg AG in Neuss, Germany. TI Automotive chief
executive officer Bill Laule said the move is designed to enhance the
company's global fuel pump design and manufacturing capabilities.
Kolbenschmidt Pierburg is a subsidiary of Rheinmetall AG based in
Duesseldorf, Germany. "Pierburg's electric fuel-pump
operations complement TI Automotive's existing diesel and gas fuel
pump product lines in Europe and North America," Laule said.
Pierburg currently supplies electric fuel pumps to a number of
European car manufacturers, including DaimlerChrysler, BMW and
Volkswagen. The division has annual sales of approximately $48 million
dollars and employs about 100 people at production facilities in Neuss.
Headquartered in North America, TI Automotive has production,
product development and engineering facilities throughout Europe,
including a major research and product development center in Rastatt,
Germany.
Laule noted that the acquisition will help TI Automotive meet a
growing demand for high pressure fuel delivery systems, including diesel
applications, especially in the high-end of the European market. It also
further strengthens the company's position as a leading fuel-system
supplier. Financial terms of the acquisition were not released.
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