TI Automotive Acquires Germany's Pierburg Electric Fuel Pump Business - Brief Article

Autoparts Report, Jan 17, 2003

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.