Federal-Mogul completes purchase of Honeywell Friction Business
July 15, 2014
Federal-Mogul Holdings Corporation has announced that its Motorparts Division has completed the previously announced acquisition of certain business assets of the Honeywell Friction Materials business. The Honeywell Friction Materials business is headquartered in Glinde, Germany, with significant operations in Romania and China.
“The acquisition of Honeywell’s friction business substantially strengthens the manufacturing and engineering capabilities of Federal-Mogul Motorparts’ current global braking portfolio,” stated Daniel Ninivaggi, Federal-Mogul Co-CEO and CEO, Federal-Mogul Motorparts.
“This acquisition enables us to accelerate our long-term strategy of enhancing our core braking product lines with a globally competitive footprint and market-leading technology. It also further strengthens our market leadership in the OE and aftermarket segments, particularly in Europe and Asia,” added Ninivaggi.
The acquired business operates only in Europe, China and Brazil and not in the United States. As described in the agreements, the transaction does not include the Bendix name or line of products or any assets, liabilities or business in the United States.
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