TI Automotive, a leading global supplier of advanced automotive fluid carrying and delivery systems has acquired Millennium Industries Corporation, a Ligonier, Indiana, based producer of powertrain products for the automotive industry.
The move strengthens TI Automotive's current powertrain portfolio, which includes gasoline direct-injection lines and rails, diesel fuel lines and turbocharger cooling lines for passenger cars and light trucks.
"Adding Millennium's successful powertrain products, operations and technical expertise increases our ability to do what we do best – develop and manufacture technology that helps improve fuel economy and performance, while reducing emissions," said Bill Kozyra, chairman, CEO and president, TI Automotive. "Furthermore, it expands our global reach within the rapidly growing powertrain field."
"Becoming part of TI Automotive is a perfect fit for our customers and the Millennium team members, as it creates great new expanded opportunities for both parties with a truly global powertrain supplier," said Gary Vollmar, president, Millennium Industries Corporation.
TI Automotive will retain the 150,000 square-foot Millennium manufacturing facility in Ligonier, Indiana, together with its approximately 500 employees which will strengthen TI Automotive's technical and manufacturing capabilities. "This is another positive step in what has been an exciting and dynamic time for TI Automotive," Kozyra said.
About TI Automotive
Fluid thinking™ shapes the mindset of TI Automotive. Global automotive manufacturers turn to TI Automotive to develop and produce industry-leading automotive fluid systems technology. With 25,000 employees at more than 125 locations in 29 countries, our strength lies in our ability to creatively meet and exceed the increasing fuel economy and emissions regulations of tomorrow's auto industry. For more information, visit www.tiautomotive.com.
Source : prnewswire.com