MEDIA RELEASE PR40578
TI Automotive Acquires Mitsuba Walbro Inc.
AUBURN HILLS, Mich., July 29 /PRNewswire-AsiaNet/ --
-- TI Automotive purchases remaining 50 percent share of former joint
venture with MITSUBA Corporation in Japan.
-- Company produces fuel pump modules and motor armatures.
-- Move allows TI Automotive to solidify presence in the Asia-Pacific OEM
and global aftermarket segments.
TI Automotive, a leading automotive supplier of fluid storage, carrying
and delivery technology, has acquired full ownership of Japan-based Mitsuba
Walbro Inc. (MWI) by purchasing the remaining shares of its manufacturing
joint venture from MITSUBA Corporation.
MWI had been a 50/50 joint venture between TI Automotive and MITSUBA
Corporation of Japan since 1987. MWI manufactures fuel pump motor armatures
and fuel pump modules for global automotive manufacturers and the aftermarket
under the TI Automotive brand.
As a result of the acquisition, MWI will be renamed TI Automotive Japan
(Gunma). It currently employs 100 people in its facilities located in
Isesaki, Gunma Prefecture, Japan.
With this transaction, TI Automotive will continue its fuel pump module
and armature manufacturing operations in Japan. The manufacturing facilities
and test laboratories will become part of the TI Automotive Global Pump &
Module Systems Division, and will continue to supply Asia- and Japan-based
automakers, while supporting TI Automotive's fuel pump manufacturing
facilities in North America, Asia, Latin America and Europe.
Bill Kozyra, chairman and chief executive officer of TI Automotive, said,
"We are very excited to bring the former MWI joint venture under the TI
Automotive global umbrella, as it reinforces our commitment to the
Asia-Pacific region. We look forward to expanding our technological reach,
and are grateful to MITSUBA Corporation for being such an outstanding partner
for the past 23 years."
TI Automotive currently operates sales and engineering facilities in
Yokohama and Nagoya, Japan.
About TI Automotive
Fluid thinking(TM) shapes the mindset of TI Automotive. Global automotive
manufacturers turn to TI Automotive for insight and focus to develop
industry-changing fluid storage, transfer and delivery technology.
With over 15,000 employees at 126 locations in 27 countries, our strength
lies in our ability to creatively meet and exceed the increasing fuel economy
and emissions regulations of tomorrow's auto industry.
SOURCE: TI Automotive
CONTACT: Frank Buscemi,
Quell Group for TI Automotive,
+1-248-519-2054,
fbuscemi@quell.com
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