TI Fluid Systems: Difference between revisions
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'''TI Fluid Systems''' develops, manufactures and supplies automotive fluid storage, carrying and delivery systems. The company has 23,000 employees at 120 locations in 29 countries, and supplies all of the world's major automobile manufacturers. |
'''TI Fluid Systems''' develops, manufactures and supplies automotive fluid storage, carrying and delivery systems. The company serves the automotive aftermarket through Bundy, [[Walbro]] and Marwal brands. |
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The company has 23,000 employees at 120 locations in 29 countries, and supplies all of the world's major automobile manufacturers.{{Citation needed|date=February 2018}} |
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The company's headquarters are located in [[Oxford]], UK, with Corporate Offices based in [[Auburn Hills, Michigan]]. It is listed on the [[London Stock Exchange]] and is a constituent of the [[FTSE 250 Index]]. |
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==History== |
==History== |
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The company traces its history back to the Bundy Corporation, which was founded in 1922 and supplied gas lines to the [[Ford Model T]].<ref name=":0">{{Cite web|url=https://www.ft.com/content/dcadfd23-47c4-38c2-b544-6be3bc8506ad|title=TI Fluid Systems looks to raise €600m through London IPO|last=|first=|date=|website=Financial Times|language=en-GB|access-date=2018-02-14}}</ref> It was later acquired by TI Group plc in 1988. |
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In 2007, the company was acquired by a consortium of private equity investors.<ref>{{Cite news|url=https://www.reuters.com/article/us-tiautomotive-cooperstandard/exclusive-cooper-standard-weighs-merger-with-ti-automotive-sources-idUSBREA1O1ZX20140225|title=Exclusive: Cooper-Standard weighs merger with TI Automotive - sources|last=|first=|date=|work=Reuters|access-date=|archive-url=|archive-date=|dead-url=}}</ref> The company was forced to go through a [[debt-to-equity swap]] in 2009 following the global economic downturn.<ref name=":0" /> |
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William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008.<ref>[http://www.autonews.com/apps/pbcs.dll/article?AID=/20100927/OEM01/309279936 Torn Apart & Rebuilt]</ref> |
William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008.<ref>[http://www.autonews.com/apps/pbcs.dll/article?AID=/20100927/OEM01/309279936 Torn Apart & Rebuilt]</ref> |
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In January 2015, the company was acquired by [[Bain Capital]] for $2.4 billion.<ref>{{cite web|url=http://www.autonews.com/article/20150127/OEM10/150129826/ti-automotive-to-be-acquired-by-bain-for-$2.4-billion-report-says|title=TI Automotive to be acquired by Bain for $2.4 billion, report says|publisher=Auto News|date=27 January 2016|accessdate=29 December 2016}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/us-ti-fluid-listing/ti-fluid-systems-revives-london-listing-plans-idUSKBN1CE0EY|title=TI Fluid Systems revives London listing plans|last=|first=|date=|work=Reuters|access-date=|archive-url=|archive-date=|dead-url=}}</ref> In 2016, the company generated sales of $3.9 billion.<ref name=":1">{{Cite news|url=http://www.plasticsnews.com/article/20171025/NEWS/171029942/ti-fluid-systems-takes-second-shot-at-london-ipo|title=TI Fluid Systems takes second shot at London IPO - Plastics News|last=LaForest|first=Audrey|work=Plastics News|access-date=2018-02-14}}</ref> |
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In 2009, TI Automotive earned a 2009 [[Automotive News]] PACE Award for “ship-in-a-bottle” fuel tank. TI Automotive also won an [[Automotive News]] PACE Award for its Dual Channel Single Stage (DCSS) fuel pump.<ref>[http://www.prnewswire.com/news-releases/ti-automotive-earns-back-to-back-automotive-news-pace-innovation-awards-90743659.html PACE Award Press Release]</ref> |
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In October 2017, the company [[Initial public offering|floated]] on the [[London Stock Exchange]] under its new name of TI Fluid Systems.<ref>{{cite web|url=https://realdeals.eu.com/news/2017/10/10/bain-ti-fluid-systems-ipo/|title=Bain Capital takes second shot at TI Fluid Systems IPO|date=10 October 2017|publisher=Real Deals|accessdate=30 November 2017}}</ref> The company floated 25 per cent of its shares.<ref name=":1" /> |
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==Structure== |
==Structure== |
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The company has |
The company has two divisions: fuel tank systems, and fuel tank and delivery systems.<ref>{{Cite web|url=http://www.tiautomotive.com/fluid-carrying-systems/|title=Fluid Carrying Systems {{!}} TI Automotive|website=www.tiautomotive.com|access-date=2018-02-14}}</ref> |
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* ''Fluid Carrying Systems'' |
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* ''Powertrain Products'' |
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* ''Thermal Products'' |
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* ''Pump and Module Products'' |
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* ''Tank Systems'' |
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==References== |
==References== |
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Revision as of 16:45, 14 February 2018
| File:TI Fluid Systems logo.png | |
| Company type | Public limited company |
|---|---|
| LSE: TIFS | |
| Industrie | Automotive Engineering |
| Gegründet | 2000 |
| Hauptsitz | Oxford, United Kingdom |
Key people | Manfred Wennemer (Chairman) William L. Kozyra, (CEO and President) |
| Produkte | Automotive fluid systems |
| Revenue | €3,348.6 million (2016)[1] |
| €236.6 million (2016)[1] | |
| €43.9 million (2016)[1] | |
| Website | http://www.tiautomotive.com |
TI Fluid Systems develops, manufactures and supplies automotive fluid storage, carrying and delivery systems. The company serves the automotive aftermarket through Bundy, Walbro and Marwal brands.
The company has 23,000 employees at 120 locations in 29 countries, and supplies all of the world's major automobile manufacturers.[citation needed]
The company's headquarters are located in Oxford, UK, with Corporate Offices based in Auburn Hills, Michigan. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
The company traces its history back to the Bundy Corporation, which was founded in 1922 and supplied gas lines to the Ford Model T.[2] It was later acquired by TI Group plc in 1988.
The current iteration of the company was created when Smiths Group divested its newly acquired automotive business in 2001 creating TI Automotive.[3]
In 2007, the company was acquired by a consortium of private equity investors.[4] The company was forced to go through a debt-to-equity swap in 2009 following the global economic downturn.[2]
William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008.[5]
In January 2015, the company was acquired by Bain Capital for $2.4 billion.[6][7] In 2016, the company generated sales of $3.9 billion.[8]
In October 2017, the company floated on the London Stock Exchange under its new name of TI Fluid Systems.[9] The company floated 25 per cent of its shares.[8]
Structure
The company has two divisions: fuel tank systems, and fuel tank and delivery systems.[10]
References
- ^ a b c "Prospectus" (PDF). RHI Magnesita. p. 172. Retrieved 30 November 2017.
- ^ a b "TI Fluid Systems looks to raise €600m through London IPO". Financial Times. Retrieved 2018-02-14.
- ^ TI Group plans to sell off auto suppliers[dead link]
- ^ "Exclusive: Cooper-Standard weighs merger with TI Automotive - sources". Reuters.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ Torn Apart & Rebuilt
- ^ "TI Automotive to be acquired by Bain for $2.4 billion, report says". Auto News. 27 January 2016. Retrieved 29 December 2016.
- ^ "TI Fluid Systems revives London listing plans". Reuters.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ a b LaForest, Audrey. "TI Fluid Systems takes second shot at London IPO - Plastics News". Plastics News. Retrieved 2018-02-14.
- ^ "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals. 10 October 2017. Retrieved 30 November 2017.
- ^ "Fluid Carrying Systems | TI Automotive". www.tiautomotive.com. Retrieved 2018-02-14.