MTE will be integrated into MTM thereby improving efficiencies in both the engineering and production of ECU and electronic components for both automotive and industrial systems.
The transaction allows additional payments worth $1.4m to be paid in 2014, following systems sales to third party customers in 2012 and 2013.
The company first purchased a 50% interest in MTE in 2001.
Fuel Systems Solutions is a manufacturer and supplier of alternative fuel components and systems.
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