Federal-Mogul Powertrain acquires remaining TRW engine components operations
July 15, 2015
Federal-Mogul Powertrain, a division of Federal-Mogul Holdings Corporation has announced that it has purchased TRW’s ownership shares in two engine components joint ventures, completing its acquisition of TRW’s Engine Components business.
“We are pleased to complete the acquisition of TRW’s engine components business which strengthens Federal-Mogul Powertrain’s market position as a leading developer and supplier of core engine components,” stated Rainer Jueckstock CEO, Federal-Mogul Powertrain and Co-CEO, Federal-Mogul Holdings Corp.
“It’s been several months since we acquired the majority of the business and today completes the process with the addition of the valvetrain operations in Tennessee and Thailand,” added Jueckstock.
The acquired business, headquartered in Barsinghausen, Germany, employs nearly 4,000 people globally.