Two of the automotive industry's top suppliers of thermoplastic fuel tanks have formed a strategic alliance to help each better serve customers from a global platform. Both ABC Group Fuel Systems Inc. and YAPP Automotive Parts Co. Ltd. predict the new alliance will strengthen market share for both companies.
The new alliance was formed just a few weeks after automotive systems supplier Plastic Omnium (PO) informed Solvay, its 50:50 JV partner in the Inergy Automotive Systems business, that PO wants to acquire Solvay's stake in the automotive fuel systems specialist. The purchase would make Plastic Omnium sole owner of the world's largest supplier of integrated fuel tank systems.
Inergy in 2005 tried to buy a 55% stake in YAPP, and that deal seemed near completion before YAPP announced it intended to remain independent. YAPP claims to have better than 50% market share of plastic fuel tank...