TI Automotive Limited Business Report FY ended Dec. 2017

Recent Years

Financial Overview

(in million EUR)
FY ended Dec. 31, 2017 FY ended Dec. 31, 2016 Rate of
change (%)
Net Sales 3,490.9 3,348.6 4.2 1)
Adjusted EBITDA 490.7 464.7 5.6 2)
Sales by Division
Fluid Carrying Systems 2,057.1 1,945.2 5.8 3)
Fuel Tank and Delivery Systems 1,433.8 1,403.4 2.2 4)

1) Net Sales
-The Company’s net sales in the fiscal year ended December 31, 2017, was EUR 3,490.9 million, an increase of 4.2% over the previous year. The increase in sales was driven by new business, increased volumes and improved product mix. Notably, the Company’s sales increased across all of its operating regions at constant currency. The Company’s sales in the Asia Pacific, North America, and Europe and Africa region grew by 9.3%, 6.6% and 1.5%, respectively.

2) Adjusted EBITDA
-In the fiscal year ended December 31, 2017, the Company had an adjusted EBITDA of EUR 490.7 million, which increased by 5.6% over the previous year. The increase in earnings was caused by improved sales as well favorable product mix. These gains were partially offset by increases in specific commodity costs, including steel and resin.

3) Fluid Carrying Systems
-The Company’s sales in the Fluid Carrying Systems division in the fiscal year ended December 31, 2017 increased by 5.8% over the previous year to EUR 2,057.1 million. Growth in the North America and Asia Pacific regions was the primary contributing factor to the division’s increased sales.

4) Fuel Tank and Delivery Systems
-Sales in the Company’s Fuel Tank and Delivery Systems division increased by 2.2% over the previous year to EUR 1,433.8 million in the fiscal year ended December 31, 2017. The increase in sales was driven by new business in the Asia Pacific region.


-In October 2017, the Company successfully held its IPO, listing its shares on the London Stock Exchange and becoming a public entity. The IPO raised proceeds of approximately EUR 360 million. (From a press release on October 24, 2017)


-The Company moved its corporate offices to a new facility in Auburn Hills, Michigan, U.S. The new 140,000-square-foot building features three floors of office space, dining facilities, collaboration areas and a lobby to display the Company’s products, technology and history. The relocation enables the Company to consolidate more than 300 executive, corporate, and divisional employees to a single location. Its technical center, which is also located in Auburn Hills, will continue operations. (From a press release on January 4, 2016)

-In June 2015, the Company announced the completion of the acquisition of the Company by affiliates of Bain Capital, a U.S.-based private investment firm. The transaction was previously announced in January 2015. (From a press release on June 30, 2015)


-The Company announced that it has acquired Millennium Industries Corporation, a producer of powertrain products for the automotive industry. Millennium Industries supplies fuel rails and lines to North American light vehicles and is based in Ligonier, Indiana, U.S. The Company will retain the 150,000-square-foot Millennium manufacturing facility in Ligonier, together with its approximately 500 employees. The move strengthens the Company’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. (From a press release on February 17, 2016)

-In 2010, the Company acquired full ownership of Japan-based Mitsuba Walbro Inc. (MWI) by purchasing its remaining shares. Previously, MWI was a 50/50 joint venture between the Company and MITSUBA Corporation of Japan. MWI manufactures fuel pump motor armatures and fuel pump modules in Isezaki, Gunma Prefecture. As a result of the acquisition, MWI will be renamed TI Automotive Japan (Gunma). The Company operates sales and engineering facilities in Yokohama and Nagoya, Japan. (From a press release on July 29, 2010)


-In 2014, the Company announced that it supplies fluid storage, carrying, and delivery systems to nearly two-thirds of the vehicles presented at the 2014 North American International Auto Show (NAIAS). These vehicles include the Audi "Q3", the BMW "i3", "2 series", "M3", and "M4", the "Cadillac CTS", the "Cadillac ATS Coupe", the "Chevrolet Corvette Z06", the "Chrysler 200", the "GMC Canyon", the Hyundai "Genesis", the Mercedes-Benz "C-Class", and the Mercedes-Benz "S-Class". The "Chevrolet Silverado" and "Chevrolet Corvette Stingray", which were named North American Car and Truck of the Year, respectively, both feature the Company's technology. (From a press release on January 16, 2014)

-In 2011, the Company has earned a new program to produce fuel tank systems for the Renault "Twingo2" and Daimler "Smart" passenger car programs. The program calls for the Company to produce nearly 350,000 fuel tanks per year from its Ettlingen and Rastatt, Germany, facilities, beginning in November 2013. The contract also calls for the Company to produce the tank-top fluid and vapor lines. With the new program, the Company will produce nearly 800,000 total fuel tank systems annually for Renault. (From a press release on July 27, 2011)

-In 2010, the Company was named the fuel systems supplier for up to three million Volkswagen Group vehicles, beginning in 2011. The fuel tank systems will be produced at the Company's facilities in Ettlingen and Rastatt, Germany, and Pamplona, Spain, and installed on five different Audi, Volkswagen, Seat and Skoda vehicles. The program also includes the development and production of six million fuel filler pipes. The pipes will be manufactured at a new facility in the Czech Republic and shipped to the different final assembly locations. The Company currently supplies fuel tank systems to the Volkswagen "Passat" in Asia, and the Audi "Q5" and Volkswagen "Caddy" in Europe. In 2011, the Company will begin production on two new programs: the Volkswagen sedan in North America and the Audi "Q3" in Spain. (From a press release on October 5, 2010)

-In 2010, the Company was named by Daimler AG as the global supplier of fuel tank systems for several Mercedes-Benz model lines. The Company will provide different variants of plastic fuel tanks, fuel filler pipes and fluid carrying lines, which will be manufactured at its plants close to Mercedes-Benz production sites in Europe (Germany) and on other continents. The variants will include Partial Zero Emissions Vehicle (PZEV) and Low-Emissions Vehicle III (LEV III) standards in the United States and Economic Commission for Europe (ECE) standards for gasoline, diesel, hybrid and flex-fuel applications. This order is the largest single-source contract in the Company's history. (From a press release on July 27, 2010)


Year Award Given by Winner (Subsidiary/ Facility)
2016 Quality World Excellence Award Ford -
2014 PACE Award Automotive News -
2012 Core Supplier Award PSA Peugeot Citroen Chalons-en-Champagne plant in France
2009 Top Ten Quality Excellence Award Guangzhou Toyota China
2008 Safety Award Toyota Tianjin, China
2006 Excellent Supplier Award Suzuki -
2006 Quality and Delivery Performance Merit Certificate Honda Automoveis do Brasil TI Brazil Ind. e Com. Ltda.
2006 Silver Supplier of the Year Award Toyota Kirloskar Motor India
2006 Excellent Supplier of the Year Award Brilliance Auto Changchun, China
2006 No.1 of Top 10 Suppliers of the Year Award FAW VW Changchun, China
2006 Best Quality Supplier of the Year Hainan Mazda Wuhan/Hainan/Chongqing, China

R&D Expenditure

(in million EUR)
FY ended Dec. 31, 2017 FY ended Dec. 31, 2016
Total 76.6 73.0

R&D Facilities

-The Company has a network of five technical centers and seven regional support centers for research and development.

Product Development

New Plastic Fuel Tank Advanced Process Technology (TAPT)
-In November 2013, the Company presented their new plastic fuel tank advanced process technology (TAPT) at the 'tank.tech' Conference in Munich, Germany. Implementation of the technology has begun series production for the all-new 2014 Mercedes-Benz "S-Class". TAPT is a flexible manufacturing process that makes it possible to produce multiple types of fuel tanks for all types of powertrains – diesel, gasoline, flex-fuel, Partial Zero Emissions Vehicles (PZEV) and hybrid – from a single design blow tooling set. (From a press release on November 5, 2013)

Brushless fuel delivery module
-In October 2013, the Company launched an all-new brushless fuel delivery module on vehicles in Europe. The new module features a new brushless fuel pump that improves efficiency and reliability with integrated electronics in the flange. The module improves vehicle packaging by integrating the ECU into the flange and optimizing control of the pump motor performance based on the specific vehicle powertrain programming. The integrated ECU helps improve efficiency of the brushless fuel pump by matching electrical power to engine need and stopping fuel delivery during stop/start mode operation. The new module assembly will be introduced on five new Peugeot and Citroen vehicles in Europe. (From a press release on October 28, 2013)

Plastic fuel tanks for hybrid vehicles

-In 2011, the Company developed plastic fuel tanks for exclusive use of hybrid vehicles. A new fuel tank manufacturing technology called "Tank Advanced Process Technology" (TAPT) enhances a function of preventing fuel slosh in the tank. The TAPT process is based on traditional blow-molding technology with certain modifications. When the plastic parison enters the mold, slosh baffles and other structural rib sections are inserted. After that, it is molded into a plastic tank by air pressure. The Company has already been awarded two contracts for this new product, from a European automaker and an Asian automaker. Commercial production will begin in 2012. (From an article in the Nikkan Jidosha Shimbun on March 9, 2011)

Selective Catalytic Reduction (SCR) urea pump motor assembly

-In 2011, the Company developed a compact selective catalytic reduction (SCR) urea pump motor assembly for the treatment of exhaust gases in diesel cars and heavy trucks. The self-contained assembly is 50% lighter than traditional products and can provide flow in the range of 5 to 50 liters per hour with brushless motor electronic control. Initial design and development of the new urea pump module took place at the Company's research and development facilities in Auburn Hills, Michigan, U.S. (system); Caro, Michigan, U.S. (pump, motor, coupling, module assembly); and Fuldabrueck, Germany (plastic lines, quick connectors). (From a press release on January 13, 2011)

Ship In the Bottle (SIB) system

-The Company has broken new technological ground with the launch of its 'Ship In the Bottle' (SIB) System. SIB system's design and blow molding process internalizes all components into the tank which previously were attached to the exterior of the fuel tank and exposed to the atmosphere, such as valves, lines and filters. The SIB System requires a maximum of two openings in the tank shell, whereas in the past there were often six or seven openings. Together with its robust connector technology, this dramatically reduces the level of emissions from the fuel tank system.

Doublewall tubing
-The Company's Doublewall tubing is designed to carry fluids at high pressure, as well as to provide greater assurance against leakage in low pressure applications. It is used extensively for hydraulic applications. The latest manufacturing techniques have allowed continuous brazing of double wall tube for precise control of the temperature and brazing conditions. These techniques can be coupled to other continuous processes, such as coating.

Capital Expenditure

(in million EUR)
FY ended Dec. 31, 2017 FY ended Dec. 31, 2016
Total 118.8 109.5

Investment outside U.S.

-The Company announced that it has opened a new fuel tank systems production facility in Baoding, Hebei Province, China. The 74,000-square-foot (6,900-square-meter) facility is the Company’s third fuel tank production facility in China. The new facility is dedicated to producing low-emission plastic fuel tank systems for Great Wall Motors’ Haval brand of sport-utility and crossover-utility vehicles. The Company expects to employ 120 people at full capacity at the Baoding facility. (From a press release on June 15, 2016)

-In 2014, the Company dedicated its newest fuel tank systems production facility in Guangzhou, Guangdong Province, China. The 67,000-square-foot (6,200-square-meter) facility is the Company's second fuel tank production facility within China and produces blow-molded plastic fuel tanks for Nissan, Toyota, Peugeot Citroen and Qoros. The Company employs 40 people at the Guangzhou facility. (From a press release on March 4, 2014)

-The Company has opened a new manufacturing facility in Monterrey, Mexico. The 53,000-square-foot facility will produce fluid carrying systems for the new Hyundai-Kia manufacturing facility located nearby. The Company is expected to employ approximately 100 people at full production, which is expected to occur in May 2016. The new facility is a key site for the Company’s global Fluid Carrying Systems Division and will produce brake and fuel bundles, brake line assemblies and clutch lines with flared tubes. In addition, the facility will be equipped to produce engine line products including water, oil and vacuum tubes, transmission lines and exhaust gas reduction pipes. (From a press release on April 13, 2016)

-In 2010, the Company inaugurated its fuel tank systems production facility in San Luis Potosi, Mexico, where it will produce plastic fuel tanks, pumps and modules for the Nissan "Micra", "Note" and "Versa" vehicle models. It is the Company's sixth manufacturing location and first fuel tank production facility in Mexico. The 83,500-square-foot facility currently has 20 employees and one assembly line. It is expected to have 200 employees and three lines by May 2011. The Company currently has 24 fuel tank manufacturing facilities and 11 pump and modules systems production facilities worldwide. (From a press release on December 9, 2010)

-In 2012, the Company announced that it opened its fifth facility in India. The new 73,000-square-foot (6,800-square-meter) facility produces fuel tank systems for Nissan vehicles built in India. The new location is the Company's first fuel tank production facility in India. The Company's other manufacturing locations in India are in Bangalore, Baroda, Chennai and Manesar and produce fluid carrying systems such as brake and fuel lines. (From a press release on November 14, 2012)

-In 2011, the Company has opened two new facilities in Bangalore and Chennai, India. Both locations will produce technology for the domestic Indian market. The Bangalore facility was established to produce fluid-carrying lines for passenger cars, with full production beginning in December 2011. At full production, the Company will employ 68 workers at the 12,500-square-foot facility. The Chennai facility is the Company's first fuel tank systems location within India and will produce low-emission plastic fuel tanks. Production will begin in April 2012. The Company will employ 70 workers at the 73,000-square-foot facility. The Company also has facilities in Manesar to produce powertrain systems, and in Baroda and Manesar for the production of fluid-carrying systems. (From a press release on October 28, 2011)

-In 2012, the Company announced that it opened its new manufacturing facility in Liberec, Czech Republic. The new, 63,700-square-foot facility will produce plastic fuel filler pipes for Volkswagen, Skoda and Audi, and assemble fuel tank systems for Citroen, Peugeot, Toyota and Skoda. Liberec is the Company's fourth location in the Czech Republic, joining two in Jablonec nad Nisou and one in Mlada Boleslav, and will have 85 employees at full production. The new plant will produce 1.1 million filler pipes annually with current programs. The Company currently has two dedicated production lines within the facility, and has optimized the floor plan to add two additional lines as needed. (From a press release on June 7, 2012)