 | |
| Company type | Public |
|---|---|
| Industry | Engineering |
| Founded | 1919 |
| Defunct | 2000 |
| Fate | Acquired |
| Successor | Smiths Group |
| Headquarters | Abingdon, Oxfordshire, United Kingdom |
Key people | Lord Plowden (Chairman) |
| Website | www.tigroup.com |
TI Group plc (formerly "Tube Investments") was a holding company for specialised engineering companies. It was based in Abingdon, Oxfordshire and was listed on the London Stock Exchange, at one point being a constituent of the FTSE 100 Index.
The company was originally registered as Tube Investments in 1919, combining the seamless steel tube businesses of various companies.[1] In 1949, the company established TI Cycles of India as a joint venture with the Murugappa family. During 1956, the subsidiary British Cycle Corporation was created, consisting of Armstrong, Norman Cycles, Sun Cycles, Phillips Cycles, Hercules Cycles, and Raleigh Industries. During the 1980s, the company acquired Alfred Herbert Ltd, Houdaille, and Armco Inc.'s European Tubing business. In 1987, Raleigh was sold to Derby International while Creda was sold to GEC.
During 1992, TI Group acquired Dowty Group, after which the business underwent heavy restructuring, making 1,500 former Dowty employees redundant and quickly disposing of seven ex-Dowty Group companies via a management buyout that resulted in the creation of Ultra Electronics. In 1994, TI Group transferred the Dowty landing gear business into a joint venture that it formed with SNECMA, which became known as Messier-Dowty. During late 1998, TI Group opted to sell its stake in Messier-Dowty. Throughout the late 1990s, the group acquired numerous other companies, including Technoflow Tube Systems, Bundy Asia Pacific, S&H Fabricating and Engineering, Kenmore Italiana, Walbro Corporation, and Marwal. On 4 December 2000, Smiths Industries merged with TI Group.
- ^ "Accles & Pollock: About us". Archived from the original on 18 August 2007. Retrieved 27 August 2007.