BI Technologies Bought by British Company

A British company said Monday that it has agreed to buy BI Technologies Corp., a Fullerton manufacturer of electrical and electronic components, for $65 million in cash.

TT Group Plc, based in Surrey, said in a press release that it is buying the West Coast company from Emerson Electric Co. to add to its product line. BI Technologies is a unit of Emerson’s Astec International Holdings Ltd.

BI employs 2,000 people worldwide, including 224 in Fullerton. No layoffs are expected, said Robert Fletcher, divisional chief executive of TT Group’s North American operations.

“BI will be an independent company with its own president and staff, just like it has today,” he said.

The company makes components such as resistors, automotive sensors and inductors in factories in California, Mexico, Malaysia and Scotland. It had sales of $93.4 million for the year that ended Sept. 30.

TT Group, which makes navigation and air-conditioning systems, said it wants to expand BI’s businesses in the telecommunications, automotive, aerospace and computer sectors.