AVX Corporation Announces a Definitive Agreement to Acquire the Transportation, Sensing, & Control Division of TT Electronics PLC

AVX Corporation today announced that it has signed a definitive agreement to acquire the Transportation, Sensing & Control division (hereinafter called TS&C), from the UK company, TT Electronics PLC.

Images: AVX Corporation (top), TT Electronics (bottom) 

John Sarvis, President and Chief Executive Officer of AVX Corporation, stated, "The addition of TS&C expands AVX's product offering to include sensors, LED lighting and control modules. TS&C, trading as AB Electronik, is a premier brand that we are proud to add to the AVX Group. They are well recognized in the areas of sensing and controls offering a broad range to the automotive market. The combination of AVX and TS&C offers exciting growth potential for the years ahead."

In accordance with the agreement, AVX will acquire TS&C for a consideration of £118.8 million (approximately US$155.5 million) in cash, subject to normal working capital adjustments at closing. The transaction is subject to approval of the TT Electronics PLC shareholders, and other conditions, including regulatory approvals, that are customary for transactions of this type.

The TS&C division of TT Electronics PLC designs, develops, manufactures and markets Sensors for temperature, position, and speed, including exhaust/emission control sensors. The Company's products are utilized in a broad range of automotive applications.

The TS&C Business operates in its own facilities or shared facilities in nine locations worldwide: Austria, China, Germany, India, Mexico, Romania, South Korea, the UK and the USA, comprising R&D, manufacturing and sales office locations. In the financial year ended December 31, 2016, the TS&C Business generated £237.4 million (approximately $300 million) of revenue. At December 31, 2016, TS&C employed approximately 1,600 people, 180 of whom were in product development, reflecting the division’s strong R&D focus.

AVX Corporation is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and interconnect products. AVX's components can be found in products manufactured in a very broad range of industries worldwide. AVX is headquartered in Fountain Inn, SC.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Nichia’s Tunable 757 receives rave reviews from industry leaders, including the coveted LpS Best Sustainability Technology Award. Nichia, the leader in and inventor of the high-brightness LED, announced its game-changing single LES, tuna... READ MORE

Innovative tunable white, mid-power LED enables luminaire manufacturers to improve colour tuning, shrink optics and fixture profiles, while enabling new design options. Nichia, the leader in and inventor of the high-brightness LED, announces i... READ MORE