TI Group plc has won a development contract to supply fuel tank systems worth a120 million a year to an unnamed automaker, the company has announced.
The contract will cover the fuel tank, filler pipe, fuel delivery module, turbine fuel pump, and fuel and vapor lines. No start date was given. The unit worth of the system to be supplied by TI is about a130 to a150, said a spokesman.
TI Group Automotive Systems Chief Executive Allan Welsh said the deal illustrated the increasing value of contracts being awarded to the group since it acquired Walbro in June 1999.
'Before this contract, and our earlier acquisition of S&H (the US-based air conditioning hose specialist), we were winning contracts in the region of a30 (per vehicle), said Welsh. 'We are now regularly securing business in excess of a200 per vehicle.'
The new system will meet the latest US LEV II (Low Emission Vehicle) environmental standards, which come into force from 2004.
TI Group employs over 40,000 people at more than 450 manufacturing and customer service facilities in over 45 countries.