TI Automotive has to carry its own water now. The automotive fluid-handling specialist has been spun off by former parent Smiths Group. A leading maker of fluid systems for automakers, TI Automotive's operations are divided into three product groups Fluid Carrying Systems (HVAC and brake and fuel lines), Fuel Systems (fuel tanks, fuel tank fill pipes, and fuel delivery systems), and the Industrial Group (comprised of Walbro Engine Management, Bundy Refrigeration, and Vari-Form). TI Automotive is publicly held but not publicly traded: Smiths Group still holds 20%, former TI Group shareholders own 55%, and TI Automotive management owns 25%.