TT Electronics Plc

Company Profile

■URL

https://www.ttelectronics.com/

■Address

Fourth Floor, St Andrews House, West Street, Woking, Surrey, GU21 6EB, UK

Business Overview

-The Company is a global developer and manufacturer of electronic components serving for various markets including the transportation, industrial, energy, medical, defense, and aerospace markets.

-As of Dec. 31, 2023, the Company is organized into three divisions: Power and Connectivity, Global Manufacturing Solutions, and Sensors and Specialist Components.

-The Company is collaborating with a leading Tier 1 companies in India which supplies manual and hydraulic steering systems to all major commercial vehicle (CV) manufacturers in the country. It is now developing electronic power steering (EPS) systems for CVs. Starting from the early design phase, it offered technical support to complete the EPS system for the customer’s 4W Electric Vehicles commercial segment.

-The Company’s Mexicali facility in Mexico has recently secured a five-year contract worth GBP 600,000 for EPS sensors for three- and four-wheeler small commercial electric vehicles.

Shareholders

(As of Mar. 5, 2024)

Shareholders	Voting rights (%)
BlackRock, Inc	13.15
FIL Limited	12.03
Aberforth Partners LLP	9.1
Bennbridge Limited	5.1
Slater Investments Ltd	5.06
M&G plc	5.0
Chelverton Asset Management Ltd	4.98
Schroders plc	4.91
Polar Capital LLP	4.88
Aberdeen Asset Management Ltd	4.83
NN Group N.V	4.78
Franklin Templeton Management Ltd	4.64

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Products

-Surge protection resistors for wiper and control modules
-Current sense resistors
-HV resistors for voltage control
-Inrush current limiting resistors
-Precision resistors for voltage monitoring
-Power resistors for load dump
-Power inductors
-Current transformers
-Battery system connectors
-Electric vehicle charging resistors
-LED modules
-High power density chip resistors
-Electronic power steering (EPS) sensor for steering systems
-Shunt resistors
-Resistors for EV battery

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History

May 1992	Acquired JP 2000 Corp.
Jul. 1992	Acquired Magnetic Materials Group plc.
Jan. 1993	Acquired AB Electronic Products Group PLC.
1993	Disposed of United Packaging PLC.
1993	Acquired a minority interest in Twine & Cordage Manufacturing Co.
Aug. 1994	Acquired Dale Electric for a consideration of GBP 16,300,000 in shares and cash.
1994	Acquired the following: Comcare Systems Ltd. and Polymer Insulators Ltd.
Jul. 1995	Acquired Race Electronics.
Oct. 1995	Acquired Linton and Hirst Group Ltd. and Scorpio Power Systems Ltd.
1997	Acquired the business of Thames Wire & Cables (Pty) Ltd.
1997	Purchased an additional 51% shareholding in Ottomotores Dale SA de CV, making this company a wholly owned subsidiary.
Mar. 1997	Acquired the Wire and Cables Division from The General Electric Company, plc at a cost of GBP 27.0 million.
Jun. 1998	Acquired the trade and assets of Wire Systems Technology (Proprietary) Limited, for a total cost of GBP 1.9 million.
Nov. 1998	Disposed of the maintenance business of Wolsey Comcare Limited, and on Dec. 3, 1998, the Company sold the issued share capital of AB Stratos Limited for a total consideration of GBP 1.6 million.
May, 1999	Acquired Prestwick Holdings plc. Started production of PCB for European OEMs.
Jan. 2000	Acquired BI Technologies Group from Emerson Electric Co. for total cost of GBP 39.7 million.
Sep. 2002	Acquired 3,273,135 shares of PRESSAC PLC. As of the acquisition, the Company's total share holding in PRESSAC was 21%.
Mar. 2003	Announced the acquisition of the business of Demo, based at Le Mans, France.
Mar. 2005	Acquisition of Chinese company, Dage Limited.
Oct. 2005	Announced the closure its French based climate control plant.
Sep. 2007	Announced to sell AEI Cables Limited, a manufacturer of power cables, to a subsidiary of Paramount Cables Limited (India).
Aug. 2008	Acquisition of Semelab Ltd. (UK) to strengthen its position in the automotive, aerospace and other markets.
Jan. 2009	Reorganized the five divisions within the Company to four divisions.
Jun. 2009	The closure of the AB Electronic facility in Romford (UK) is due to be completed by June 30, 2009.
July, 2011	Divested the late business in the General Industrial division.
Aug. 2011	Announced to close the Boone, North Carolina, U.S. manufacturing plant in 2012.
2012	Closed the Boone plant in North Carolina, U.S.
2012	Divested the Secure Power division.
Oct. 2017	Completed divestiture of the Transportation Sensing and Control Division to AVX Corporation through the subsidiary of AVX Limited. The Company received total cash consideration of GBP 123.5 million for the transaction.
Nov. 2018	Agreed to establish a joint venture with UniRoyal, "TT UR Precision Resistors"
Feb. 2024	Opened a new 75,000-sq. ft. manufacturing facility in Mexicali, Mexico.