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Leading U.S. Automotive Components Maker Invests in Northern Ireland

10 June 1998

Leading U.S. Automotive Components Maker Invests in Northern Ireland

    CHICAGO, June 10 -- North America's largest manufacturer of
tire repair products has formed a new $4.5 million joint venture with a
Northern Ireland company to make products for Europe's automotive industry,
the Industrial Development Board (IDB) for Northern Ireland announced today.
    Tech International of Johnstown, 0hio, near Columbus, formed the joint
venture with Northern Ireland's Aromet Group to manufacture and supply an
extensive range of automotive tire and tube repair products.  The new company,
EuroTech B.V., plans to expand Aromet's existing facilities in Lisburn, near
Belfast, and will introduce the latest advancements in production equipment
and techniques.
    Michael Chambers, Tech International's chief executive officer, said the
company's choice of Aromet and Northern Ireland followed an extensive study of
potential opportunities for expansion in Europe.  "Tech International's choice
of Aromet is a tremendous endorsement of the company and of Northern Ireland
as an ideal location for globally focused, cost-conscious companies," Chambers
said.
    Founded in 1939, Tech International is the world's second-largest maker of
tire repair products.  The company, which supplies approximately
3,000 products to customers in 70 countries, operates a joint venture
manufacturing facility in India and has sales and distribution bases in
Belgium, Puerto Rico, Japan and China.
    Aromet was established in 1991 and has developed significant business in
key European markets such as France.  The company received IDB's Northern
Ireland Exporter of the Year award in 1996.
    "By merging the complementary skills and resources of the two companies,
we aim to create a dynamic operation which will become a leader in the
European market in the near term," said Pauline Chambers-Yost, president of
Tech International.
    Bill Montgomery, senior vice president of IDB in North America, said the
new partnership provides Tech International with an established and successful
European manufacturing operation, which the company has identified as being
essential to its growth, particularly in the rapidly developing markets of
Eastern Europe.  "It is an important acknowledgment of Northern Ireland as a
cost-effective, high-quality manufacturing location from which to service
Europe by a company recognized throughout North America and the rest of the
world as a leader in the automotive components industry," Montgomery said.