TI Automotive Ltd. says a fuel-systems contract it secured with Mercedes-Benz marks the largest with an individual company in the British supplier's history.
TI was named the global supplier of fuel tank systems for several Mercedes model lines. TI will not release the specific models, said spokesman Frank Buscemi. He also said the total value of the contract could not be disclosed yet.
TI will provide Mercedes with seven types of plastic fuel tanks, fuel filler pipes and fluid-carrying lines.
“This is a great opportunity for us to further develop our position with Daimler AG as a long-term, reliable partner,” TI CEO Bill Kozyra said in a statement.
Kozyra reorganized TI into five divisions, reduced costs and restructured debt after taking over in 2008. The 18-month restructuring included eliminating 55 percent of all salaried jobs and temporary salary cuts, which ended in January, for all managers at the director level and above.
Kozyra said in January that he planned to build the company's North American operations to 35 percent of TI's global sales – up from 25 percent – within three years.
TI, of Oxford, England, ranks No. 71 on the Automotive News Europe list of the top 100 global suppliers, with worldwide parts sales to automakers of $1.69 billion in 2009.