Teleflex Acquires Division of McKechnie Vehicle Components

    PLYMOUTH MEETING, Pa.--July 24, 2001--Teleflex Incorporated announced today that it had acquired the Fluid Handling Division of McKechnie Vehicle Components ("McKechnie") for US$15.5 million ((pound)10.9 million) in cash. McKechnie is a privately held firm based in the United Kingdom. With annual sales of approximately US$37 million ((pound)26 million), the Fluid Handling Division designs and manufactures plastic fluid handling systems for the automotive and truck markets worldwide. The acquisition includes operations in the United States, United Kingdom, The Netherlands and Spain. Among its major customers are Ford, Volvo and Visteon.
    Jeffrey P. Black, president of Teleflex, said, "McKechnie has strong customer relationships with European original equipment manufacturers (OEMs) as well as with Tier 1 and 2 customers. Its fuel and vapor assemblies, brake vacuum assemblies and other products for the automotive and truck markets complement and extend our product offerings, making McKechnie an excellent fit with our Fluid Systems group."