StockMarketWire.com - TT Electronics has announced the purchase of intellectual property and manufacturing assets from TWG, a leading temperature sensor manufacturer based in Martinroda, Germany.

TWG is well recognised in the automotive market, working with leading global automotive OEMs, and is known for its innovative high-temperature technologies, with a proven pedigree for exhaust-gas, high-temperature sensors since 2008. In deciding to strengthen and extend its industrial applications portfolio for the future, TWG has chosen to transfer its established automotive business to a trusted partner.

Dr. Klaus Irrgang, Owner of TWG, said: "TWG has invested many years of engineering and design effort into this technology and is certain that TT Electronics, with its technical expertise and premium customer base, will continue to drive the successful development of advanced products. We have a long-term relationship with TT Electronics and we are delighted that TWG's technology will strengthen TT Electronics' portfolio. We wish them every success."

Richard Tyson, Chief Executive of TT Electronics, said: "We are pleased to be able to strengthen TT Electronics' offering in managing engine performance, and to enable our customers to meet the next generation of standards in emission legislation."




At 12:34pm: [LON:TTG] TT Electronics PLC share price was +2.13p at 150.63p



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