Tristone Flowtech invests US$ 3.5 million to increase production at Chihuahua facility
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Tristone Flowtech Group, a Germany-based automotive supplier specialized in tailor-made fluid solutions, announced plans to invest US$ 3.5 million at its new plant in Chihuahua, Mexico, to increase output capacity and broaden its product catalog by 2018.
The company earlier this year finalized the move of production to a new facility in Delicias, Chihuahua, from a smaller plant in the same town which has been closed. Its 175,000 square-feet premises double the space of the old facility.
Tristone already invested about US$ 7 million in equipment during the latter part of 2016 and throughout 2017 at the site, said in a company update, Guenter Froelich, president and CEO. Additions included three hose extrusion lines, six autoclaves, assembly equipment and six overmolding machines, he said.
The plant produces engine cooling, battery cooling and air charge hose systems, with plastic overmolding. Its customers portfolio includes Ford, General Motors, Volkswagen, Fiat Chrysler Automobiles, BMW and some Tier 1 suppliers in Mexico, the U.S. and Canada.
The company plans to broaden its product catalog, as well as its customers base, when the new equipment becomes operational.
Tristone started operations as a Fluid Automotive Business unit of Trelleborg A.B. that was spun off and became a stand-alone business in mid-2010. The company specializes in fluid applications for motor and battery cooling as well as air charge and air intake systems.
In early November, the company recorded strong financial results for the first three quarters with record sales of US$ 249.5 million, up 15% from the same period in 2016. Incoming business awards for the first three quarters reached US$ 92.6 million, which was also above expectations, the firm said in its financial report.