TT electronics Plc Business Report up until FY ended Dec. 31, 2010

Business Highlights

Recent Years


-In 2009, the Company won significant business with leading European truck manufacturers including MAN, with the design of a high temperature sensor to monitor the effectiveness of the cleaning process within the exhaust system. The technology ensures that all MAN trucks and buses are compliant with environmental legislation Euro 4 and Euro 5.

-The Sensors division was chosen by BMW during 2009 to supply a new range of speed sensors for a stop/start application. Using proprietary magnetic sensing technology, the Company developed an application which will be fitted onto all BMW four and six-cylinder engines, worldwide, starting in 2010.

-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 application, due for launch in 2007, is for accelerator pedals for a major customer in the German automotive market.


-The closure of the AB Electronic facility in Romford (UK) is due to be completed by June 30, 2009.

-During 2008, seven production lines were transferred offshore with a further 13 lines moving to lower cost regions in the current year.

-Steps were taken in 2008 to reduce the Company's cost base in Germany including the use of short-time working.

Joint venture

-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.


-In March 2005, the Company 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. The Company 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.


R&D Activities

-In October, 2010, the Company's Components Division has secured a contract to develop custom micro inverter/power electronic modules for the hybrid and electric vehicle (HEV) market. The contract with UK based Protean Electric will see TT electronics AB Mikroelektronik design and manufacture these complex modules at its advanced factory in Salzburg, Austria.(From a press release on October 5, 2010)

-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. Under development for the German automotive industry is a new range of solid state lighting modules for the control of vehicle daylight running lamps and direction indicator units. Production is planned to start during 2008.

-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 system.

-During 2007 the group purchased the patents to expand the use of Autopad for fuel level sensing and Digital Angular Position Sensing for steering applications.

-During 2006, the development of Autopad sensor product range has continued and the Company has won new business. These sensors will be used in angle measurement applications.

Investment Activities

Capital Expenditure

(in million Pounds)
  FY2010 FY2009
Overall 17.1 16.3
Components 5.9 3.9
Sensors 9.6 9.1