Technitrol shifts automotive electronic assets to China

March 29, 2007

Hoping for $10-12 million in additional operating profit, Technitrol (www.technitrol.com) has closed ignition coil production operations in Germany and Tunisia and is transferring that capacity to facilities in China.

Hoping for $10 to 12 million in additional operating profit, Technitrol has closed ignition coil production operations in Germany and Tunisia and is transferring that capacity to facilities in China. The firm currently has more than 26,000 employees operating out of nine manufacturing sites in China, where it also has three sales offices and several design centers. Technitrol’s Electronic Components Group's hub in Europe will remain in Herrenberg, Germany.

Technitrol estimates the cost of the repositioning plan at $12 to $13 million including $1 million in severance charges taken in the fourth quarter of 2006.