Bundy Lands Major New OEM Contracts During First Half of 1999
30 July 1999
Bundy Lands Major New OEM Contracts During First Half of 1999
WARREN, Mich., July 29 -- The Bundy Group received new
automotive OEM contracts for fluid-carrying systems valued at more than
$24 million on an annual basis during the first half of 1999, according to
Allan Welsh, chief executive officer of TI Group Automotive Systems.
He said Fiat, DaimlerChrysler, General Motors, Jaguar, Peugeot and Nedcar
(a joint venture between Mitsubishi, Volvo and the Dutch government) were
among the major automotive manufacturers who have awarded new supply contracts
to the Bundy Group so far this year. Bundy is part of UK-based TI Group
Automotive Systems.
Jim Davis, president of Bundy North America, said Bundy facilities in
Ashley, IN; Marysville, MI; New Haven, MI, and Tultitian, Mexico, will be
among eight Bundy plants worldwide supplying systems covered under the new
contracts.
The new business awards include:
* A lifetime contract to supply brake and fuel lines for Fiat's new Alfa
Romeo 166, replacement for Alfa Romeo's 164. The double-walled brake lines
feature a Bundy-developed Rislan coating.
* A multi-year supply contract to provide brake and fuel-line systems for
U.S. production of the Cadillac Catera beginning in 2002. Bundy currently
supplies all brake and fuel lines for European production of the vehicle.
* A multi-year contract to provide complete brake line systems for
Jaguar's new S Type models. The Jaguar S Type will use Bundy's Nygal-coated
brake lines, products that enhance corrosion and abrasion resistance.
* Vehicle line contracts to supply power steering rack lines for several
current Peugeot models, as well as replacement models for the 605 and Xantia.
Bundy already provides power steering rack lines for PGA's 306, Xsara,
Berlingo and Partner.
* A multi-year contract to provide brake and fuel line bundles for the
2001 Chrysler PT Cruiser. The Bundy systems will include fuel jumper lines,
as well as purge and vacuum tubes. The PT Cruiser will be produced at
DaimlerChyrsler's Toluca Assembly Plant in Mexico.
* A five-year award to produce fuel lines for the Volvo V40 being
assembled by Nedcar, a joint venture between Volvo, Mitsubishi and the Dutch
government. The Bundy systems are being sourced through Walbro, which has
manufacturing facilities near Bundy's Liege plant in Belgium and is a Nedcar
supplier.
"We've seen a significant increase in business over the past year," Mr.
Welsh said. "These 1999 contract announcements underline the growing strength
of our global automotive business."
Bundy is the leading specialist in fluid-handling systems for the
automotive and refrigeration industries. Last year, Bundy had sales of $1.3
billion and employed more than 15,000 people at more than 105 locations in 27
countries. Bundy's North American headquarters are located in Warren, MI.
Bundy is part of TI Group Automotive Systems, an organization formed after
TI Group's acquisition of Walbro Corporation earlier this year. TI Group
employs more than 20,000 people in more than 130 manufacturing and customer
service facilities in North America.
Other TI Group specialized engineering businesses include John Crane,
Dowty and Forsheda. TI Group is one of the world's leading specialized
engineering companies and operates on a global basis with over 40,000
employees at more than 450 manufacturing and customer service facilities in
over 45 countries.
Bundy can be found on the Internet at http://www.bundy.com . TI Group's
Internet site is http://www.tigroup.com