FRANKFURT -- German automotive supplier Beru has won a three-year contract worth $107 million to $133 million (80 million-100 million euros) to supply tire pressure monitoring systems for a European carmaker's U.S. model range, it said in a statement on Tuesday.
The contract will add about $20 million to $26.6 million (15 million-20 million euros) to Beru's total revenue in its 2005/06 fiscal year, said the company, which is in the process of being acquired by U.S. car part maker BorgWarner Inc.
It did not name the manufacturer that placed the order, for which deliveries are due to start in mid-2005.
The order comes amid stricter U.S. regulations adopted in September that require tire pressure monitoring systems in passenger cars starting in September 2005.
In its 2003/04 financial year, Beru boosted revenue at its tire-pressure monitoring business by half to $39.92 million (30 million euros) versus group sales of $471.6 million (354.5 million euros.)
BorgWarner has secured a majority stake in the diesel cold-start technology specialist and is offering to buy out remaining investors in a deal that values Beru at $826 million (621 million euros.)