TT electronics Business Report FY2006
-New climate control business has been won from North American OEMs. This will be manufactured in a newly established Chinese factory by mid 2007.
-The first volume Autopad (R) application, due for launch in 2007, is for accelerator pedals for a major customer in the German automotive market.
- In March 2005, TT Electronics plc acquired Dage Limited ("DBS"), a Chinese electronic manufacturer that has an annual turnover of 19.3 million pounds and profit of 1.2 million pounds. TT held the entire issued share capital of DBS for a cash consideration of 8.0 million pounds. DBS had manufacturing facilities in Aylesbury in the UK and in Suzhou, China. The acquisition of DBS allows the Company to expand its existing electronic manufacturing services business and provide it with the facilities in China to meet the requirements of its major OEM customers, particularly within the automotive industry.
- In December 2006, the Company signed an agreement to form a joint venture with an established supplier to the automotive industry in India. The Company will own 51% of the joint venture which will manufacture and sell the group's sensors and systems to the Indian automotive and industrial markets. TT electronics' partner in the joint venture is Padmini VHA Mechatronics Pvt. Ltd. Padomini supplies a range of electromechanical and electronic products to the domestic Indian automotive market to customers including General Motors, Hyundai, Mahindra & Mahindra, Maruti and Tata.
The Hall effect non-contacting sensors are more suitable for measuring speed such as engine crankshaft or road wheel rotation speeds. These are progressing well. eg. Hall effect torque and digital angular position sensor used in steering technology. This has been developed alongside its Autopad (R) system.
The Company has developed combined temperature and pressure sensors.
This sensor controls the temperature and flow of diesel fuel to the engine. Volume production commenced in 2006 for a Germany automotive manufacturer.