LONDON (Sept. 19)—TI Group P.L.C.—whose Specialty Polymer Products business includes the former Forsheda and Busak+Shamban polymer activities—plans to spin off its Automotive Systems Group and merge with British aerospace, electronics and medical systems group Smiths Industries P.L.C. TI Group´s automotive systems includes the Bundy and S&H Fabricating tubing businesses in the U.S. The boards of directors of TI Group and Smiths Industries have agreed unanimously to the merger proposal.
TI Group plans to sell auto unit, merge with Smiths Industries
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