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The Guardian

UK car parts firm TI Fluid Systems bought by Canadian rival in latest overseas takeover

The Guardian on
UK car parts firm TI Fluid Systems bought by Canadian rival in latest overseas takeover



London-listed company’s global headquarters in Oxford likely to be hollowed out, putting jobs at riskCar parts maker TI Fluid Systems has become the latest London-listed firm to succumb to an overseas takeover, in a deal that will lead to its base in Oxford being hollowed out.The £1bn takeover by Canada’s ABC Technologies includes cutting as many as 2,700 staff globally, 10% with its workforce, with Oxford set to see staff levels reduced by a third. Continue reading…



Source link : https://www.theguardian.com/business/2024/nov/29/uk-car-parts-ti-fluid-systems-abc-takeover-jobs

Author : Mark Sweney

Publish date : 2024-11-29 12:44:35

Copyright for syndicated content belongs to the linked Source.

Tags : The Guardian

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