燃料 tech 会社／堅い 始める，決める for £850m sale

By Lucinda Kemeny
Updated: 09:32 BST, 6 February 2005

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FUEL 貯蔵 and ブレーキ systems 商売／仕事 TI 自動推進の, which is part-owned by 工学 会社／堅い Smiths Group, is 存在 groomed for an £850m sale.

投資 banks Citigroup and JP Morgan have been 任命するd to advise on the 過程, which is 推定する／予想するd to generat e bidding from 私的な 公正，普通株主権 groups and 貿易（する） 買い手s.

Smiths, which owns about 20% of the 商売／仕事, has been looking to recoup its 投資, 価値（がある） about £325m.

However, 試みる／企てるs by TI 自動推進の to refinance itself in the past have failed, leaving 観察者／傍聴者s to question the 利益s of the 投資 to Smiths' 株主s.

Smiths Group was formed by a 合併 between Smiths and TI Group in 2000. TI 自動推進の later demerged, leaving Smiths with a 火刑／賭ける in the 商売／仕事 と一緒に 管理／経営 and other 株主s.

Oxford-based TI - divided into 燃料 systems, fluid carrying systems and a third arm 目的（とする）d at the 産業の market - 雇うs 20,000 staff in 29 countries. It 供給するs ブレーキ or 燃料 科学（工学）技術 for about half the world's 年次の 生産／産物 of 57m cars and has 年次の sales in 超過 of £1.5bn.

While Europe is a 重要な part of TI's 操作／手術s, the greatest 歳入 発生させる人（物） is North America, where the company has almost 10,000 従業員s and has 普通の／平均（する） 年次の sales of more than £800m. This compares with いっそう少なく than £600m for Europe.

Insiders に引き続いて the 提案するd sale of the 商売／仕事 have 示唆するd that a US-based 入札者 such as Blackstone or KKR could be more successful given TI's 重要な presence in America.