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Slide #41. Federal-Mogul — Significant Portion of Honeywell Friction Business
Significant Portion of Honeywell Friction Business
Federal-Mogul Corporation today announced that its European subsidiaries entered into a definitive purchase agreement to acquire certain business assets of the Honeywell automotive and industrial brake friction business including two recently established manufacturing facilities in China and Romania. Honeywell Friction Material business is headquartered in Glinde, Germany and employs over 2,000 associates globally. The transaction is subject to customary approvals from regulatory authorities and other stakeholders where required. The parties anticipate closing the transaction during the second half of 2014.
Federal-Mogul is a supplier of technology in vehicle and industrial products for fuel economy, emissions reduction and safety systems. Co. is an original equipment manufacturers (OEM) and servicers of automotive, light, medium and heavy-duty commercial vehicles, off-road, agricultural, marine, rail, aerospace, power generation and industrial equipment, as well as the worldwide aftermarket. Co. operates in two segments: Powertrain, which focuses on original equipment products for automotive, heavy duty and industrial applications; and Motorparts, which sells and distributes a range of products in the global aftermarket, while also serving OEM with products including braking and wipers.
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