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Slide #52. Federal-Mogul — DZV Bearings Company
DZV Bearings Company
Federal-Mogul (NASDAQ:FDML) today announced that its foreign subsidiary, Federal-Mogul Investments, B.V., entered into a definitive agreement to purchase the DZV Bearings Company, a privately held business located in Dimitrovgrad, Russia. The transaction is subject to customary closing conditions and approvals from regulatory authorities and is expected to close by year-end, or early in the first quarter of 2014. DZV is a respected manufacturer of engine bearings, bushings and thrust washers. It serves several leading Russian original equipment commercial vehicle and industrial engine manufacturers. DZV also supplies the commercial engine repair market. The company employs 375 associates.
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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Strong Buy (4.00 out of 4)
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