TI Automotive helps motorists manage their liquid assets. The company is one of the largest manufacturers of automotive fluid storage, carrying, and delivery systems. It operates through five product groups that focus on its global business: fluid carrying systems, powertrain components, tank systems, pump and module systems, and HVAC fluid systems. TI Auto serves major auto makers, including GM, Ford, Toyota, and BMW, and the automotive aftermarket via some 130 locations in about thirty countries. It is publicly held but not publicly traded. Once a subsidiary of Smiths Group, TI Auto is owned by a family of investment funds led by Oaktree Capital Management and Duquesne Capital Management.
TI Automotive expanded into India by opening two new facilities in 2011. A 12,500 sq. ft. plant in Bangalore was established to make fluid-carrying lines for passenger cars. A 73,000 sq. ft. plant in Chennai was set up to make low-emission plastic fuel tanks. The facilities complement TI Automotive's plants in Baroda (fluid-carrying systems) and Manesar powertrain systems and fluid-carrying systems).
In another major 2011 development, TI Automotive contracted with Renault to make about 350,000 fuel tanks per year starting in 2013 at two German facilities for the Renault Twingo model and a new generation of the Daimler Smart passenger car, which is being developed through a partnership between Renault and Daimler.
TI Auto's financial foundation, meanwhile, had been strengthened by a debt-for-equity swap negotiated in late 2010 that cleansed its balance sheet of some $1.3 billion in debt. The deal diversified its group of shareholders from a small consortium of private equities to about 20 owners. TI Auto was spun off by Smiths Group in 2001. – less
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