Federal-Mogul announces sale of its connecting rod and camshaft business
July 2, 2013
Federal-Mogul Corporation’s Powertrain Segment has announced that it has entered a definitive agreement to sell its connecting rod and camshaft business to JD Norman Industries, Inc. with an effective date of June 28, 2013.
The sale involves Federal Mogul’s sole connecting rod machining plant, located in Windsor, Canada and the camshaft foundry, located in Lydney, United Kingdom. As part of the agreement, JD Norman Industries will continue to employ Federal-Mogul’s current 230 associates working in these two facilities.
“The acquisition of the Lydney and Windsor businesses will advance JD Norman’s strategic vision of building a global manufacturer with world class capabilities and service,” stated Justin D Norman, President and CEO, JD Norman Industries, Inc. “By adding two key powertrain products in connecting rods and camshafts and new plant locations in Canada and the United Kingdom, JD Norman adds diversification and new markets to our portfolio.”
The Windsor operation is a manufacturer of fully-machined connecting rods and the Lydney facility manufactures chilled iron camshaft castings. Both businesses supply engine platforms for global original equipment manufacturers in the automotive and transportation industries.
“The Windsor and Lydney plants are respected for their experience and high quality operations by their customers, including General Motors, Ford, Chrysler, Linamar, Jaguar, Land Rover, PSA and others, however the connecting rod and camshaft business is not core to Federal-Mogul Powertrain’s long-term portfolio strategy,” added Rainer Jueckstock, Federal Mogul’s co-CEO and CEO Federal-Mogul Powertrain.
www.jdnorman.com
www.federalmogul.com
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