TI Automotive Acquires Pierburg's Electric Fuel Pump Unit

WARREN, Mich., Jan. 13, 2003; TI Automotive, a leading supplier of fuel systems, has acquired the electric fuel-pump division of Kolbenschmidt Pierburg AG in Neuss, Germany. Bill Laule, TI Automotive's chief executive officer, said the move is designed to enhance the company's global fuel-pump design and manufacturing capabilities. Kolbenschmidt Pierburg is a subsidiary of Rheinmetall AG based in Duesseldorf, Germany. "Pierburg's electric fuel-pump operations complement TI Automotive's existing diesel and gasoline fuel-pump product lines in Europe and North America," Laule noted. Pierburg currently supplies electric fuel pumps to a number of leading European automobile manufacturers, including DaimlerChrysler, BMW and Volkswagen. The division has annual sales of approximately 48 million dollars and employs about 100 people at production facilities in Neuss. Headquartered in North America, TI Automotive has production, product development and engineering facilities throughout Europe, including a major research and product development center in Rastatt, Germany. Laule noted that the acquisition will help TI Automotive meet a growing demand for high pressure fuel-delivery systems, including diesel applications, especially in the high-end of the European market. It also further strengthens the company's position as a leading fuel-system supplier. Financial terms of the acquisition were not released. "Pierburg's products complement our own pumps and give us a market-leading line of fuel-pump designs," added Richard Kolpasky, president of TI Automotive's North American operations. "Pierburg pumps are ideally suited for use with our new generation of plastic-fuel-tank systems developed to dramatically reduce evaporative emissions and help automobile manufacturers meet strict new global emissions standards." In combination with a completely new line of fuel pumps now under development at TI Automotive, the Pierburg acquisition will enhance the company's ability to design, develop and manufacture complete, modular fuel- storage and fuel-delivery systems that are favored by automotive OEMs, according to Kolpasky. He said that TI Automotive will continue to use the highly regarded Pierburg brand name on the product lines it has acquired. TI Automotive is the world's leading supplier of fluid storage, transfer and delivery systems including brake, fuel and air conditioning applications. Based in Warren, Michigan, the company employs more than 21,000 people at more than 130 facilities in 29 countries. Further information about TI Automotive is available on the company's web site at http://www.tiautomotive.com . Pierburg AG is a division of Kolbenschmidt Pierburg AG. A subsidiary of Rheinmetall AG, Kolbenschmidt Pierburg is a global supplier of air-supply components; water, oil and vacuum pumps; pistons; plain bearings, and engine blocks. The company has 12,000 employees with global sales of 1.8-billion euros. Additional information is available on the Internet at http://www.kolbenschmidt-pierburg.com