Federal-Mogul Powertrain Completes Purchase of TRW Engine Valve Business
Resource from: NASDAQ Likes:237
Feb 11,2015
Southfield, Michigan, February 9, 2015...Federal-Mogul Powertrain, a division of Federal-Mogul Holdings Corporation (NASDAQ:FDML), today announced that it has closed on material portions of the previously announced acquisition of TRW's engine valve business. The acquired business, headquartered in Barsinghausen, Germany, employs nearly 4,000 people globally.
"We are extremely excited about this strategic acquisition, as it adds a completely new product line that is very complementary to Federal-Mogul Powertrain's portfolio. This engine valve business enables us to provide more value to our customers who look to us to help them improve fuel economy, reduce emissions and enhance vehicle performance on a global basis," said Rainer Jueckstock, CEO, Federal-Mogul Powertrain and Co-CEO, Federal-Mogul Holdings Corp.
Federal-Mogul's Powertrain division is a leading provider of powertrain components, designing and manufacturing products for automotive, heavy-duty, industrial and marine applications. The company's products and services enable improved fuel economy, reduced emissions and enhanced vehicle performance.
About Federal-Mogul
Federal-Mogul Holdings Corporation (NASDAQ:FDML) is a leading global supplier of products and services to the world's manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation and industrial markets. The company's products and services enable improved fuel economy, reduced emissions and enhanced vehicle safety.
Federal-Mogul operates two independent business divisions, each with a chief executive officer reporting to Federal-Mogul's Board of Directors.
Federal-Mogul Powertrain designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial and marine applications.
Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 of the world's most recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, chassis, wipers and other vehicle components. The company's aftermarket brands include ANCO® wiper blades; Champion® spark plugs, wipers and filters; AE®, Fel-Pro®, FP Diesel®, Goetze®, Glyco®, Nüral®, Payen® and Sealed Power® engine products; MOOG® steering and suspension parts; and Ferodo®, Jurid® and Wagner® brake products.
Federal-Mogul was founded in Detroit in 1899 and maintains its worldwide headquarters in Southfield, Michigan. The company employs more than 45,000 people in 34 countries. For more information, please visit www.federalmogul.com.
CONTACT:
Paula Silver
(248) 354-3045
paula.silver@federalmogul.com
(NASDAQ)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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