Women in engineering: perspectives from our International Women’s Day roundtable

In recognition of International Women’s Day, we recently hosted a roundtable discussion with several of our female engineers: Dhivya Srinivasan – Director of Transformation for North America, Alisha McAllister – Application Engineer, Amanda Herrick – Systems Engineer, Cassandra Billock – Thermal System Engineer, Rebecca Ostman – Simulation Engineer, Vijeta Nimmagadda – Application Engineer, and Jessica Hester – Senior Project Engineer.

Organized and chaired by Erica Dzwonkiewicz, Director of Marketing and Communications, the session brought together diverse experiences and insights on how we can continue to support and inspire women in the automotive sector.

Finding a path into engineering

Many of the participants discovered their passion for engineering through a blend of aptitude, curiosity, and family influence. Alisha entered chemical engineering after realizing her love for math and science, while Vijeta followed in the footsteps of her father and grandfather, both mechanical engineers. Amanda explored biomedical engineering first but pivoted to mechanical engineering upon finding more opportunities in fluid dynamics and thermal systems. In every case, a desire to solve real-world problems fuelled their decision to pursue engineering.

Experiences in the automotive engineering sector

Rebecca and Dhivya shared that their engineering schools had a higher percentage of women compared to the industry. Rebecca’s class had the highest percentage of women, with 29%, while Dhivya’s school had a ratio of one woman to every eight men.

Once in the engineering workforce, participants noticed varying levels of representation, particularly in leadership roles. They all recalled times when they were the only woman on an engineering team.

Despite these challenges, each participant praised the fast-paced nature of automotive work. Cassandra, with three decades in the industry, loves constantly learning new design and engineering methods. From fluid simulation to product development, the range of specialized areas keeps them engaged.

Challenges and the need for broader industry change

The group acknowledged common hurdles for women in engineering. One recurring issue is feeling a need to prove technical competence more often. The group noted having to work extra hard to be heard. Rebecca mentioned that, while there might be more women at the working level, there are very few women in engineering management across the industry.

The group agreed that balancing career and family responsibilities can influence how long women remain in the field. They concluded that genuine progress calls for flexible policies, visible role models, and consistent efforts to cultivate inclusive workplaces across the sector.

Supportive allies and constructive environments

Throughout their careers, each participant benefited from guidance and advocacy from colleagues who encouraged new ideas. Alisha noted she has a boss who genuinely listens, while Cassandra and Dhivya spoke about leaders who invest in developing team members with varied backgrounds and perspectives. These positive relationships illustrate how allies and mentors help build confidence and foster a collaborative atmosphere.

Advice for aspiring women engineers

When asked what they would recommend to younger women considering an automotive career, the group emphasized self-belief, an eagerness to learn, and resilience. Dhivya urged future engineers not to be afraid of mistakes, because “each one is an opportunity to grow.”

Several participants encouraged seeking out supportive networks – both inside and outside the company – and investing in mentorship, which can speed up learning curves and build professional connections. They also suggested celebrating small wins and allowing time for personal life, which helps maintain balance.

Jessica neatly captured the essence of the discussion, saying that “as the industry evolves, there’s a chance to redefine workplace culture and create more inclusive environments. I’m excited for women to continue pushing boundaries, leading innovation, and proving that technical excellence isn’t limited by gender”.

Looking ahead

Erica concluded the roundtable by underscoring the value of conversations that highlight women’s experiences and prompt new ideas. Plans are already taking shape for future discussions, potentially inviting male allies to help create meaningful change at the team and organizational levels.

On this International Women’s Day, we celebrate the achievements of Dhivya, Alisha, Amanda, Cassandra, Rebecca, Vijeta, and Jessica, as well as the countless other women who continue to innovate in automotive engineering. While progress may be gradual, their commitment to sharing experiences and championing each other’s success can help move the entire industry forward, one voice at a time.

Key Leadership Appointments Announced for Combined ABC Technologies & TI Fluid Systems Group

  • Terry Campbell to become President & Chief Executive Officer and Alexander De Bock to become Chief Financial Officer of the combined group
  • TI Fluid Systems’ current President & Chief Executive Officer, Hans Dieltjens, to step down following completion of the acquisition
  • ABC Technologies’ acquisition of TI Fluid Systems remains on track to complete during the first half of the year

TORONTO, CANADA and AUBURN HILLS, MICHIGAN, USA (19 February 2025) – ABC Technologies (ABC) and TI Fluid Systems (TIFS) announce two key leadership appointments that will take effect following the completion of ABC’s acquisition of TIFS. Terry Campbell, currently President & Chief Executive Officer (CEO) of ABC Technologies (ABC), and Alexander De Bock, currently Chief Financial Officer (CFO) of TIFS, will be appointed President & CEO and CFO respectively of the combined group.

Terry Campbell became President & CEO of ABC in 2022, having previously held senior leadership roles at Johnson Controls, Magna International and The Woodbridge Group. With over thirty years’ experience in the global automotive sector, he brings a customer-centric approach and considerable expertise in operational excellence and product innovation.

Alexander De Bock was appointed CFO of TIFS in 2023, having spent over 15 years in the industry, including in finance leadership roles at WABCO and ZF Group. Since joining TIFS, Alexander has played an instrumental role in driving financial performance in a dynamic environment, enhancing capital allocation and improving shareholder returns.

Speaking about his appointment, Mr. Campbell said: “Leading the combined ABC and TIFS group as its CEO is a tremendous privilege. I am looking forward to working with Alexander and the global executive leadership team to build on TI Fluid Systems’ strengths and deliver the benefits of the combination. As a larger, diversified business with a broad range of products and an expanded geographic footprint, we will be extremely well positioned to navigate the transition to electrification, deliver value for customers and achieve sustainable growth.”

Following completion of the acquisition by ABC, Hans Dieltjens will step down from his current role as President & CEO and Director of TIFS. Mr Dieltjens was appointed President & CEO in 2021, following 25 years in leadership positions across the business. TIFS thanks him for his considerable contribution and strong leadership, which has paved the way for future success.

Hans Dieltjens said: “It has been an honor to have had the opportunity to lead TI Fluid Systems and I am incredibly proud of all that we have achieved. Our people are some of the most talented, passionate and forward-thinking in our industry. Together, we have positioned the TIFS group for a successful future and I am confident that the business will continue to thrive and grow together with ABC.”

The Board of TIFS announced the terms and conditions of a recommended all cash offer from ABC Technologies Acquisitions Limited (“Bidco”) of the entire issued, and to be issued, ordinary share capital of TI Fluid Systems (the “Acquisition”). It is intended that the Acquisition will be implemented by way of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The Acquisition was approved by TIFS shareholders on 5 February 2025 and is expected to complete in the first half of this year, following receipt of remaining regulatory and judicial clearances. TI Fluid Systems will give notice of the anticipated completion timetable by issuing an announcement through a Regulatory Information Service and by making such announcement available on TI Fluid Systems’ website at https://tifluidsystems.com/.

TIFS is a market-leading business, renowned for its exceptional people, innovative products and blue-chip customer base. The combination with ABC will bring together two strategically complementary businesses to create a larger, more diversified group, better positioned to navigate the transition to electrification and deliver sustainable, long-term growth.

 

 

About ABC Technologies

ABC Technologies is a leading global manufacturer and supplier of custom, highly engineered, technical plastics, and light-weight innovations to the North American light vehicle industry. Serving more than 25 major original equipment manufacturer customers in 8 countries, the Company is strategically placed to offer vertically integrated product and process solutions through a skilled workforce of over 11,000 team members. ABC Technologies is majority owned by certain of the affiliated funds of Apollo Global Management, Inc. and its subsidiaries with funds managed by Oaktree Capital Management, L.P. owning a minority equity interest in ABC Technologies. Additional information about the Company can be found at www.abctechnologies.com

About TI Fluid Systems
TI Fluid Systems is a global innovator of thermal and fluid systems solutions for the full range of current and developing vehicle architectures. Serving all major automotive manufacturers, with more than 100 years of automotive supply experience; TI Fluid Systems operates across 26 countries with a commitment to improving efficiency, performance and sustainability worldwide.

 

Press Information

ABC Technologies
Thomas.Hajkus@abctech.com
Tel: + 1 248-648-0173

FGS Global (PR Adviser to ABC Technologies)
Rory King
ABCTech-UK@fgsglobal.com
Tel: + 44 (0) 20 7251 3801

TI Fluid Systems
Kellie McAvoy
Investor Relations
kmcavoy@tifs.com
Tel: + 44 7354 846374

Headland Consultancy (PR Advisor to TI Fluid Systems)
Matthew Denham / Chloe Francklin
Tel: + 44 7354 846374

Further information

This announcement is for information purposes only and is not intended to, and does not, constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Acquisition or otherwise, nor shall there be any sale, issuance or transfer of securities of TI Fluid Systems in any jurisdiction in contravention of applicable law. The Acquisition will be implemented solely pursuant to the terms of the scheme document published in respect of the Acquisition (or, if the Acquisition is implemented by way of a contractual offer, the offer document), which will contain the full terms and conditions of the Acquisition,

Forward looking statements

This announcement (including information incorporated by reference in this announcement), oral statements made regarding the Acquisition, and other information published by Bidco and TI Fluid Systems contain statements which are, or may be deemed to be, “forward-looking statements”. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Bidco and TI Fluid Systems about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.

The forward-looking statements contained in this announcement include statements relating to the expected effects of the Acquisition on Bidco and TI Fluid Systems (including their future prospects, developments and strategies), the expected timing and scope of the Acquisition and other statements other than historical facts. Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as “prepares”, “plans”, “expects” or “does not expect”, “is expected”, “is subject to”, “budget”, “projects”, “synergy”, “strategy”, “scheduled”, “goal”, “estimates”, “forecasts”, “cost-saving”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward looking statements may include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of Bidco’s, TI Fluid Systems’, any member of the Bidco Group or any member of the TI Fluid Systems Group’s operations and potential synergies resulting from the Acquisition; and (iii) the effects of global economic conditions and governmental regulation on Bidco’s, TI Fluid Systems’, any member of the Bidco Group or any member of the TI Fluid Systems Group’s business.

Although Bidco and TI Fluid Systems believe that the expectations reflected in such forward-looking statements are reasonable, Bidco and TI Fluid Systems can give no assurance that such expectations will prove to be correct. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements.

These factors include, but are not limited to: the ability to complete the Acquisition; the ability to obtain requisite regulatory and shareholder approvals and the satisfaction of other Conditions on the proposed terms and schedule; changes in the global political, economic, business and competitive environments and in market and regulatory forces; changes in future exchange and interest rates; changes in tax rates; future business combinations or disposals; changes in general economic and business conditions; changes in the behaviour of other market participants; changes in the anticipated benefits from the proposed transaction not being realised as a result of changes in general economic and market conditions in the countries in which Bidco and TI Fluid Systems operate, weak, volatile or illiquid capital and/or credit markets, changes in tax rates, interest rate and currency value fluctuations, the degree of competition in the geographic and business areas in which Bidco and TI Fluid Systems operate and changes in laws or in supervisory expectations or requirements. Other unknown or unpredictable factors could cause actual results to differ materially from those expected, estimated or projected in the forward-looking statements. If any one or more of these risks or uncertainties materialises or if any one or more of the assumptions proves incorrect, actual results may differ materially from those expected, estimated or projected. Such forward-looking statements should therefore be construed in the light of such factors. Neither Bidco nor TI Fluid Systems, nor any of their respective associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur. You are cautioned not to place any reliance on these forward-looking statements.

Specifically, statements of estimated cost savings and synergies related to future actions and circumstances which, by their nature, involve risks, uncertainties and contingencies. As a result, the cost savings and synergies referred to may not be achieved, may be achieved later or sooner than estimated, or those achieved could be materially different from those estimated. Due to the scale of the TI Fluid Systems Group, there may be additional changes to the TI Fluid Systems Group’s operations. As a result, and given the fact that the changes relate to the future, the resulting cost synergies may be materially greater or less than those estimated.

Other than in accordance with their legal or regulatory obligations, neither Bidco nor TI Fluid Systems is under any obligation, and Bidco and TI Fluid Systems expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Dealing and Opening Position Disclosure Requirements

Under Rule 8.3(a) of the Takeover Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) of the Takeover Code applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Takeover Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel’s website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Publication on a website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on TI Fluid Systems’ website at https://tifluidsystems.com/ by no later than 12.00 noon (London time) on the Business Day following this announcement. For the avoidance of doubt, neither the content of such website nor of any website accessible from hyperlinks set out in this announcement is incorporated by reference or forms part of this announcement.

Requesting hard copy documents

In accordance with Rule 30.3 of the Takeover Code, TI Fluid Systems Shareholders, persons with information rights and participants in TI Fluid Systems Share Schemes may request a hard copy of this announcement, free of charge, by contacting TI Fluid Systems’ registrar, Equiniti Limited, either in writing to Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA, United Kingdom or by calling +44 (0) 371 384 2050. Calls outside the U.K. will be charged at the applicable international rate. Lines are open between 8.30 a.m. and 5.30 p.m. (London time) Monday to Friday excluding public holidays in England and Wales. For persons who receive a copy of this announcement in electronic form or via a website notification, a hard copy of this announcement will not be sent unless so requested. In accordance with Rule 30.3 of the Takeover Code, such persons may also request that all future documents, announcements and information to be sent to them in relation to the Acquisition should be in hard copy form.

 

Introducing eCP: the next generation of electric coolant pumps

TI Fluid Systems is continuing to set new standards in electric vehicle thermal management with the launch of our 12V Electric Coolant Pump (eCP). Tailored for battery electric vehicles (BEVs), the eCP integrates precise thermal control and energy efficiency with environmentally conscious design, addressing the needs of BEV manufacturers in an increasingly competitive market. Engineered for maximum flexibility and optimized performance, the eCP addresses the specific thermal management and production challenges faced by BEV manufacturers.

A pump that delivers more

The eCP brings a suite of features that set it apart in thermal management systems:

Scalable power range: From 60W to 230W, the eCP adapts to diverse vehicle requirements.

Eco-friendly design: Free of rare earth magnets, it’s both cost-effective and environmentally responsible.

Quiet and efficient: With noise levels below 40 dB(A) and ultra-low electricity consumption, the eCP enhances performance without compromise.

Broad temperature range: Functioning seamlessly in conditions from -40°C to 90°C.

Compact and modular: Its standardized design simplifies installation and manufacturing while ensuring longevity and reliability.

Innovation in action

Produced at our Tianjin facility in China, the eCP reflects our commitment to engineering excellence. Our production process combines advanced automation with skilled craftsmanship to deliver a product that meets the rigorous demands of modern BEVs. A high level of standardization ensures the eCP aligns with global OEM requirements while enhancing production efficiency.

Talking about the eCP, our Chief Technology Officer Johannes Helmich, said: “Battery electric vehicles present unique thermal management challenges, and with OEMs laser-focused on making BEVs as cost-competitive as possible, we have developed the eCP to be highly efficient and seamlessly integrates into the vehicle architecture.”

Why it matters

The eCP represents a significant step towards more sustainable electric mobility. By eliminating the use of rare earth magnets and optimizing efficiency, this pump supports the automotive industry’s transition to greener technologies. Its scalable and compact design ensures it’s ready to meet the diverse needs of BEV manufacturers worldwide.

2025 trends: Lightweighting

I’m often asked about the next big steps in automotive design. One area that stands out is lightweighting, especially for electric vehicles. By 2025, we will likely see a greater focus on removing mass from every aspect of cars, helping to improve range, handling, and overall resource consumption. Lighter vehicles demand less energy to move, making them ideal for battery-driven transportation. That means fewer raw materials, smaller battery packs, and less environmental impact. Achieving this balance requires advanced materials, creative engineering, and an unwavering commitment to making systems more efficient than ever.

Though mass reduction can take many forms, thermal management deserves special attention. Today’s electric powertrains produce and distribute heat across batteries, motors, and other components. Allowing excess heat to accumulate can degrade battery life or limit performance. Our engineering teams devote considerable effort to designing modules that cool essential parts precisely where needed. These modules are typically compact, easy to integrate, and refined to reduce mass while maintaining effectiveness. By choosing optimized materials, we ensure a sound structure without adding unnecessary weight.

Lightweight thermal modules are especially relevant because they have dual benefits: they save weight and contribute to the vehicle’s overall performance. We approach each project with a mindset that combines technical insight, rigorous testing, and a focus on practicality. For instance, we use advanced manufacturing techniques to refine product geometry, channels, and mounting points. With these methods, we can minimize mass and maintain robust function. Our drive to trim unnecessary bulk brings both range improvement and cost benefits to vehicle programs.

Another advantage of concentrating on thermal modules is that they are part of a broader fluid handling strategy. When integrated with coolant lines and other fluid pathways, these modules help manage heat across systems more effectively. This synergy extends to both electric and hybrid platforms. The same principles apply whether you’re cooling a purely electric powertrain or a combined combustion and electric system. By standardizing certain components and processes, we can ensure consistent performance even as powertrain architectures vary.

At TI Fluid Systems, our role is to supply solutions that meet both present requirements and future demands. Over the years, we have refined our approach to material selection, design methodology, and quality assurance. We focus on making sure every product meets rigorous standards of weight reduction, safety, and functionality. In my view, this mindset will continue to shape our industry’s future. As we head into 2025, lightweight designs will likely become even more critical. Motorists will expect greater range from their electric vehicles, and automakers will search for fresh ways to trim mass without sacrificing performance or comfort. Thermal modules, designed with a focus on resource efficiency, are a vital part of that equation.

I am proud of our teams for pushing the boundaries of design and material science, with an eye on mass reduction and heat management. By blending expertise, data, and creativity, we stay ahead of emerging demands, ensuring electric vehicles achieve optimal performance and reliability for years ahead.

Supporting all propulsion types – TI Fluid Systems’ approach to hydrogen

As the global automotive industry strives to balance sustainability targets with consumer demands and robust financial performance, TI Fluid Systems (TIFS) is leading the charge with its product portfolio that addresses all propulsion types. By embracing adaptability, our dual approach capitalizes on our dominant position in conventional fluid systems while rapidly scaling for the shift to EVs.

Being ‘propulsion agnostic’ means we design our systems to work seamlessly across diverse propulsion methods, adapting to the demands of ICE, hybrid, electric, and hydrogen applications. This positions the business as a reliable partner for OEMs navigating the energy transition, where versatility and agility are key.

Hydrogen technology is a cornerstone of TIFS’s innovation strategy, as hydrogen-powered vehicles are gaining traction as part of the global push toward zero emissions. These vehicles rely on hydrogen fuel cells to convert hydrogen into electricity, producing only water as a byproduct. However, the success of hydrogen vehicles depends on the infrastructure being robust, including high-pressure hydrogen lines that efficiently transport hydrogen within the vehicle.

We lead the way in the development of hydrogen lines, a critical component of hydrogen-powered vehicles. These high-pressure lines are designed to transport hydrogen safely from storage tanks to the fuel cell or internal combustion engine.

Here’s why our products stand out:

Durability and safety – TIFS hydrogen lines are engineered using advanced materials capable of withstanding extreme pressures – up to 900 bar – and a wide range of temperatures. This ensures safe and reliable operation under rigorous conditions, a key factor in accelerating hydrogen adoption.

Streamlined, integrated design – by incorporating essential features such as sensors, connectors, and attachment hardware, TIFS hydrogen lines reduce system complexity, improve reliability, and support modular vehicle architecture.

Precision manufacturing – using state-of-the-art manufacturing processes, we ensure the highest levels of precision and quality, meeting stringent global safety standards while reinforcing its reputation for engineering excellence.

Hydrogen is more than a technology; it’s a pathway to achieving net-zero emissions. With our expertise and commitment to innovation, TIFS is positioned to lead the global shift toward decarbonized transportation.

Celebrating professional development: Rena Jin’s decade-long journey at TI Fluid Systems

We believe in fostering talent and empowering our employees to reach their fullest potential, and today, we’re thrilled to share the remarkable journey of Rena Jin. Rena has progressed from her role as a legal assistant to a fully qualified member of our legal team, having recently passed the Chinese Legal Exam. We caught up with Rena to get the inside track on her impressive rise through the company and what motivates her.

Q1: Rena, congratulations on passing your legal exams! Can you take us back to the beginning of your journey at TI?

Rena: Thank you! I joined TI in 2014 as an assistant to the Asia Pacific legal counsel. My role involved daily support tasks like legal database management, contract filing, and organizing travel plans. This position allowed me to immerse myself in the legal aspects of our business and sparked my interest in pursuing a legal career.

Q2: What motivated you to transition from an assistant role to pursuing the Chinese bar exam, and how has this achievement impacted your role?

Rena: Working closely with our legal team exposed me to the complexities and importance of legal work within TI. I was inspired by the professionalism and dedication of my colleagues and wanted to contribute more significantly. With strong support from my managers and HR, I enrolled in a two-year Juris Master program at East China University of Political Science and Law in Shanghai, which provided me with a systematic understanding of Chinese legal systems and laws. Preparing for and passing the Chinese bar exam was challenging, but it equipped me with comprehensive knowledge of corporate law and compliance regulations. This accomplishment has enhanced my ability to support the legal team, handle more complex legal matters, and contribute to the company’s success in the Chinese market, which is hugely exciting!

Q3: Balancing work and studies must have been challenging. How did you manage this transition?

Rena: It was definitely a challenge. Time management was essential, and I had to carefully plan my schedule to accommodate both work and study. The support from my supervisors and the company was invaluable – they offered flexibility and encouragement. Additionally, participating in a long-term training program and interning at a law firm helped me gain practical skills and stay motivated.

Q4: Can you highlight some key experiences that have been pivotal in your legal career at TI?

Rena: One significant experience was working closely with our Asia Pacific legal director, Stanley, to resolve customer disputes. Handling these complex cases taught me the importance of legal expertise in risks management whilst maintaining a keen sense of business acumen. Additionally, the experience of seconding at a local law firm and attending court hearings have significantly widened my perspectives in analysing legal issues and developed my problem-solving skills. Supporting corporate governance compliance and new business setups have also been crucial in shaping my strategical thinking.

Q5: How has TI Fluid Systems supported your professional development throughout your career?

Rena: TI has been incredibly supportive of my growth. The legal team’s communication is flat and the culture encourages team members to express our opinions plainly and honestly. The company also invests heavily in employee development, from providing access to professional legal training programs to offering leadership training programs in the UK etc.. I am grateful for the great talent development policy which recognizes people and allows possibilities to happen. Meanwhile, I really appreciate the collaboration and teamwork from legal teammates during study leave, especially mentorship from leaders like Janis, our CLO, has also been instrumental in guiding my career path and encouraging me to take on more responsibilities.

Q6: What advice would you give to colleagues aspiring to advance their careers at TI?

Rena: I encourage everyone to stay curious and proactive in seeking growth opportunities. Don’t hesitate to pursue further education or certifications that align with your career goals. Communicate your aspirations with your supervisors, get necessary support and resources and be ready. Most importantly, maintain a healthy work-life balance to sustain your motivation and well-being.

Rena Jin’s journey exemplifies the growth opportunities available at TI Fluid Systems. We congratulate Rena on her achievements and look forward to her continued success.

Supporting the shift: fuel tank adaptations for a hybrid-driven market

As we move toward 2025, it’s clear that hybrid vehicles are no longer just transitional products – they’re evolving into a sophisticated market segment all their own. Hybrid technology has grown from a niche option to a mainstream solution, serving drivers who want better efficiency and lower emissions without fully committing to an all-electric lifestyle. This shift isn’t just about adding a battery to an internal combustion engine; it’s about reimagining nearly every component in the vehicle, including one that’s often overlooked: the fuel tank.

Traditionally, fuel tanks in gasoline-powered cars have been relatively straightforward. But in a hybrid, the tank’s role is more complex. When a car runs on electric power alone, the fuel tank can no longer vent, resulting in increased pressure creating unique challenges in terms of vapor management, fuel tank deformation, and long-term durability. Tanks must handle this increased pressure, sometimes at elevated temperatures – factors that standard designs never had to consider. This is where advanced tank technology steps in, ensuring that hybrids can meet tighter emissions regulations, offer improved reliability, and integrate smoothly with ever-more-sophisticated powertrains.

TI’s engineers have spent decades refining the design and production of blow-molded plastic fuel tanks, originally for traditional internal combustion vehicles. Now we’re adapting and innovating that expertise to address the needs of hybrids. The result isn’t just a slight ‘tweak’ to existing products – it’s a wholesale rethinking of tank architecture. Through close collaboration with leading automakers, we’re developing tanks that are optimized for the unique demands of hybridization. This work includes the application of stiffening solutions and the associated manufacturing processes to withstand increased internal pressures, and the associated vapor-handling requirements required of a hybrid system.

The impact of these new tank technologies extends beyond making hybrids more efficient and eco-friendly. By pushing the boundaries in pressure resistant solutions and advanced production methods, we’re creating a foundation for future developments. Lessons learned today in hybrid fuel tank performance will inform next-generation solutions, whether for plug-in hybrids, hydrogen fuel cell cars, or fully electric systems that rely on advanced thermal management. The knowledge gained in meeting hybrid demands allows us to anticipate the challenges of tomorrow’s mobility landscape.

As we look ahead to 2025, the hybrid fuel tank stands as a perfect illustration of how automotive innovation is shifting. No longer is it enough to simply optimize a single component; now, each part of the vehicle must integrate seamlessly into a broader vision of cleaner, more efficient transportation. The fuel tank of the future must serve as both a technical and strategic link – one that helps automakers hit stricter environmental targets while meeting consumer expectations for convenience and reliability.

We’re proud at TI to be doing our part, one advanced hybrid tank at a time, to power the world forward.

Response to possible offer announcement by ABC Technologies Inc.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 

THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”). THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE NOR AS TO THE TERMS OF ANY OFFER IF MADE 

FOR IMMEDIATE RELEASE 

 

14 September 2024 

TI Fluid Systems plc
(“TI Fluid Systems” or the “Company”) 

Response to possible offer announcement by
ABC Technologies Inc. (“ABC Technologies”) 

The Board of TI Fluid Systems notes the recent announcement by ABC Technologies Inc., a company majority-owned by investment funds managed by Apollo Management IX, L.P., regarding a possible offer for the Company. 

The Board confirms that on 4 September 2024, it received a second unsolicited, highly preliminary and non-binding all-cash proposal from ABC Technologies to acquire TI Fluid Systems at a price of 176 pence per TI Fluid Systems share (the “Proposal”). This followed a previous proposal at 165 pence per TI Fluid Systems share. 

The terms of the second proposal represent a premium of 20.7% to the closing share price of 145.8 pence on 13 September, prior to press speculation about a potential offer for the Company. 

The Board of TI Fluid Systems considered the Proposal in detail with its advisers and unanimously concluded that it significantly undervalued TI Fluid Systems and its prospects, and accordingly the Proposal was rejected early last week. 

The Board is confident in the strategy and prospects of the Company. 

The Board strongly urges shareholders to take no action at this time. A further announcement will be made if and when appropriate. 

In accordance with Rule 2.6(a) of the Code, ABC Technologies is required, by not later than 5.00 p.m. (London time) on 12 October 2024, either to announce a firm intention to make an offer for TI Fluid Systems in accordance with Rule 2.7 of the Code, or to announce that it does not intend to make an offer for TI Fluid Systems, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can only be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code. 

This statement is being made by TI Fluid Systems without the consent of ABC Technologies. 

 

Enquiries: 

TI Fluid Systems plc 
Kellie McAvoy kmcavoy@tifs.com 
+44 (0) 7354 846 374
 
Headland Consultancy 
Matthew Denham
Chloe Francklin
+44 (0)7551 825 496
+44 (0)7834 974 624
 
Goldman Sachs (Joint Financial Adviser and Corporate Broker)  +44 (0) 20 7774 1000
Nimesh Khiroya
Axel Hoefer
Tom Hartley
Ben Duell
 
Peel Hunt LLP (Joint Financial Adviser and Corporate Broker)  +44 (0) 20 7418 8900
Mike Bell
Marc Jones
Pete Mackie
Sam Cann

 

Important information

Goldman Sachs International (“Goldman Sachs”), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for TI Fluid Systems and no one else in connection with the Proposal or any other matter referred to in this announcement and will not be responsible to anyone other than TI Fluid Systems for providing the protections offered to clients of Goldman Sachs or for providing advice in relation to the contents of this announcement or any matters referred to herein.

Peel Hunt LLP (“Peel Hunt”), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively as joint financial adviser and corporate broker to TI Fluid Systems and for no one else in connection with the matters referred to in this announcement and will not be responsible to any person other than TI Fluid Systems for providing the protections afforded to clients of Peel Hunt, nor for providing advice in relation to the matters referred to herein. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with the matters referred to in this announcement, or otherwise.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel’s website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Rule 26.1 disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at www.TIFluidSystems.com by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Rule 2.9 information

In accordance with Rule 2.9 of the Code, the Company confirms that as at the close of business on 13 September 2024 its issued share capital consisted of 498,204,654 ordinary shares of £0.01 each.

The Ordinary Shares are voting shares (each such Ordinary Share carries one vote per Ordinary Share) and are admitted to trading on the main market of the London Stock Exchange under the International Securities Identification Number GB00BYQB9V88.

 

 

 

 

 

 

 

Product training takes our team to the next level

Earlier this year, our Product Management team delivered a series of comprehensive training sessions for the wider TIFS team. Delivered between May and July, the sessions were designed to ensure that TIFS employees have a thorough and professional understanding of our products. To ensure that the sessions took the varying levels of technical understanding of our staff into account, the sessions were tailored for different people. Level 0 sessions were designed for those with a very basic understanding, Level 1 was suited for those in sales roles, and Level 2 sessions were designed for the experts in our engineering department.

Each level focused on different products and target groups. Level 0 sessions provided a basic understanding of both our traditional and new product portfolio, while Level 1 went slightly deeper, examining our new Coolant and Refrigerant products. Both levels were suitable for members of our sales, engineering, purchasing, quality, and operations teams.

Level 2 was more advanced, taking a deep dive into the technical specifications and troubleshooting processes of our Coolant and Refrigerant products and modules. The sessions were held at our state-of-the-art e-Mobility Innovation Center (eMIC) in Rastatt, Germany, and TIFS employees from South Korea, Japan, India, the United States, France, and China were present for a series of hands-on activities and in-depth discussions about the product lines. These discussions included extensive technical reviews between the delegates and trainers.

Having gained practical knowledge and skills from the immersive sessions, the delegates are now equipped to deliver effective training to colleagues in their local teams. We would like to express our thanks to our team of product experts for sharing their insights and delivering the sessions.

Diversity & Inclusion committee’s Allyship success

Our global Diversity & Inclusion (D&I) committee is dedicated to championing inclusivity across the business. Tasked with creating a safe and engaging working environment for the company’s 27,000 employees, the team have been hard at work to reinforce TIFS’s mindsets of embracing change, winning as a team, and being a continuous learner.

In recent months, the committee’s focus has been on educating the business’ global workforce on Allyship. Defined as the willingness to take action in support of another person or community, Allyship is a crucial part of our goal to enable true diversity, equity, and inclusion.

To help ensure that Allyship is understood and adopted across the business, the D&I committee worked in tandem with TIFS’s Women’s Empowerment Network to hold an Ally Workshop. 20 male members of the TIFS team were selected to participate in the event, with all 20 holding critical, influential roles within the company. The purpose of the workshop was to help participants understand what it means to be an Ally and what is expected of Allies.

The workshop was a huge success and the feedback on the event was overwhelmingly positive. In particular, the business’ UK-based Director of Corporate Reporting, Simon Howell, was so inspired by his experience that he was eager to discuss his thoughts on what he learnt. Check out Simon’s thoughts below.

 

Q: Why do you think D&I and/or Allyship are important at TIFS?

Simon Howell (SH): Understanding diversity and Allyship in particular is really important to be able to address it. For many, this is often a blind spot, but from our perspective, having a genuine interest and understanding is fundamental to the success we have as individuals and teams. Working in global teams means it is really important to understand and be empathetic to colleagues.

 

Q: How has this training influenced your perspective on your role as a man and/or senior manager in promoting diversity, equity, and inclusion?

SH: Everybody has a role to play – but as a leader, I now have clarity that it is about taking action if I see poor behaviour and correcting myself immediately if I say or do something wrong.

 

Q: Were there any previous misconceptions you had about Allyship that were clarified during the training?

SH: The biggest learning for me in the training – and I heard a few others say this – was around the discussion of “privilege”. This is often included in conversations as a negative and sometimes as an insult. It is more about recognizing what you do have experiences of, and those that you have not had experience of, but others have. The reality of privilege is that it is important to understand perspectives and that individuals may not have certain experiences. So as a leader, I know it is my role to create an environment for others that can help them succeed.

 

Q: What immediate action steps do you plan to implement in your team or department to foster a more inclusive environment as an Ally?

SH: I will listen and seek out diverse ideas and experiences, and ensure that all voices are heard.

 

Q: How do you believe your actions as an Ally can contribute to the overall success of TIFS?

SH: Different perspectives, ideas, and discussion lead to better decisions being made. An environment of innovation and improvement comes from allowing people to speak up with their ideas.

 

Q: What barriers or challenges do you anticipate in your journey as an Ally, and how do you plan to overcome them?

SH: The biggest barrier is often myself. To be an effective Ally, I need to be sure to stop and think about how I am going to say something, how to include or bring people into the conversation in the right way, and how to ask for open feedback. I have previously spent a lot of time in my career understanding and trying to stop microinequities. A practice that I’ve adopted if I say something incorrect is to say out loud “that was wrong, that was a microinequity” and then correct myself immediately. I need to ensure I do this more, and correct others’ microinequities.

 

Q: What advice would you give to other men in management roles about the importance of participating in Allyship training?

SH: This training is one of the best workshops I have been on in recent years. The investment in time is small compared to the positive outcome it can have, not only on colleagues, but in making good business decisions. I am glad I invested the time as I know I will be more successful and a better leader if I keep working on the behaviours that I learned and keep making them a daily habit.