With the global automotive industry continuing to face challenging market conditions, including the impact of Brexit, Thermal Management Solutions (TMS) Group has decided to transfer its UK thermostat production capacity to its factories in Germany and France.
According to a communication from the company, this decision allows the group to support its customers’ needs, achieve operational efficiencies and safeguard its long-term success.
TMG combines a diversity of respected brands, strategic geographical locations and product experts to innovate products and solutions that support vehicle efficiency improvements, lower CO2 emissions, and help OEMs to meet their global carbon reduction strategies.
Mark Franckel, Group CEO, TMG, said that the automotive industry has experienced unprecedented turbulence and uncertainty over recent years, with some markets hitting harder than others. The company has navigated these challenges, and it continues to experience strong demand for our thermal management products from OEMs and Tier-1 suppliers from around the world.
“Our innovative automotive thermal solutions enable all vehicle platforms, including electric, hydrogen and hybrid vehicles. It was against this challenging backdrop that the decision to transfer production from the UK to Europe was made. It was not taken lightly and was only made after careful deliberation and consideration of all the company’s critical stakeholders and the outlook for the industry. The move optimises our global operating footprint to deliver a strong, resilient business that will allow us to meet the current and future demands of an extremely dynamic industry,” he said.
“We remain excited about the industry’s electrified future and are uniquely poised to capitalise on the rapidly expanding electric vehicle market as well as the opportunities it brings to the Group,” he added.