Information  X 
Enter a valid email address

TI Group PLC (TI.)

  Print   

Thursday 19 October, 2000

TI Group PLC

Re Alliance

TI Group PLC
19 October 2000

                                                                              
                     TI GROUP'S JOHN CRANE IN $50M GLOBAL                     
                            ALLIANCE WITH BP AMOCO                            
                                                                              
John Crane, TI Group's world leader in engineering sealing systems, and BP
Amoco, one of the world's leading oil and gas companies, have reached
agreement on a ground-breaking strategic alliance to provide seal management
support on a global basis.  
 
The global nature of the new five-year agreement is the first of its kind for
both John Crane and BP Amoco, one of John Crane's leading customers, and has
a base value of $5m (£3.5m) a year - rising over time to potentially more
than $10m (£7m) a year. 
 
Under the agreement, John Crane will provide a wide range of engineered
sealing products to support rotating equipment at BP Amoco's 80 refineries,
petrochemical processing plants and pipeline compressor stations in 27
countries around the world. 
 
John Crane, as a preferred supplier, will use its seal management expertise
to achieve lower running costs for BP Amoco by ensuring increased Mean Time
Between Repair - a key component in the cost of running a facility. Further
savings in material and labour costs will flow to BP Amoco through John
Crane's knowledge of seals inventory management and on-site support. 
 
With the aid of strategic acquisitions, John Crane has created the leading
portfolio of high technology mechanical sealing solutions in process industry
markets. It has also taken a significant step towards establishing itself as
a full service provider to the process industry, rather than solely a
supplier of products. 

Products covered by the new BP Amoco global agreement include a broad range
of John Crane mechanical seals, proprietary turbo-machinery seals, packing
and gasket product lines, Lemco reservoir sealing system support equipment,
and Metastream couplings. 
 
The BP Amoco agreement will also take account of any new technologies and
products developed and introduced by John Crane during the life of the
contract.  
 
Earlier this year, a $5m (£3.5m) five-year exclusive contract was awarded to
John Crane by Shell for all aspects of mechanical seal management and
maintenance at its Stanlow refinery, near Liverpool, in the UK.  
 
Commenting on the BP Amoco alliance, Bill Laule, Chief Executive of TI Group,
said:  
 
'This new strategic global alliance with BP Amoco underlines John Crane's
ability to offer a full service to its blue chip, process industry customers,
helping them cut costs by achieving greater reliability and ensuring product
availability around the world. John Crane's full service abilities will bring
new growth opportunities, as customers consolidate and seek to deal with
fewer, global suppliers.' 
 


For further information please contact:-

Richard Poston                                    020 7560 5739
Director of Communications 
TI Group plc  
[email protected] 
 
David Nicholas                                    020 7560 5728 
Head of Media Relations 
TI Group plc  
[email protected] 
 
Tom McDonnell                                    (212) 319 3101 
Vice President, Communications
TI Group Inc., New York            
[email protected] 
 
 
Notes to Editors: 
TI Group plc, listed on the London Stock Exchange, is one of the world's
leading specialised engineering companies. Headquartered in the UK, the Group
operates on a global basis and employs over 40,000 people at more than 450
manufacturing and customer service facilities in over 45 countries. 

John Crane, a world leader in engineered sealing systems, is one of TI
Group's four world leading businesses, the others being TI Group Specialty
Polymer Products (engineered polymer solutions), TI Group Automotive Systems
(automotive fluid carrying systems) and Dowty (aerospace systems).Group sales
revenue in 1999 was £2.7 billion, of which 46% was North America, 27%
Continental Europe, 20% UK and 7% Rest of the World. 
 
A detailed description of TI Group and its businesses can be found on the
company's website at www.tigroup.com. 
 
PR No. 028/00 




                                                                                
                                                                                
                                                            

a d v e r t i s e m e n t