Fuel Systems Solutions to Buy Teleflex Alt-Fuel Unit
SANTA ANA, CA --- Fuel Systems Solutions Inc. has agreed to purchase Teleflex Inc.'s Power Systems business, which includes alternative-fuel components and systems, for $14.5 million in cash.
Fuel Systems Solutions is a leading manufacturer of alternative-fuel components and systems.
The transaction is expected to close in the third quarter of 2009.
"Fuel Systems has pursued its strategy of acquiring businesses and technology that enhances or extends its capabilities," said Mariano Costamagna, CEO of Fuel Systems Solutions. "Teleflex's alternative-fuel components and systems business unit complements our existing global transportation and industrial businesses. Its technology and engineering capabilities expand our existing platform. The auxiliary power systems business, anti-idling auxiliary power units that are used to generate power for operators of parked class-8 trucks and diesel locomotives, will broaden our target markets."