10th Dec 2015 12:28
LONDON (Alliance News) - TT Electronics PLC said Thursday that it has bought intellectual property and manufacturing assets from Germany-based temperature sensor manufacturer Thermoelemente und Widerstandsthermometer Geraberg GmbH.
Financial details of the transaction were not disclosed. TT Electronics said that by buying these assets, it will extend its product range to include high-temperature sensing up to 1,150 degrees centigrade.
"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," said Chief Executive Richard Tyson in a statement.
Shares in TT Electronics were up 1.2% at 150.25 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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