Affinia Group Inc. to sell global chassis business

Affinia Group Inc., an innovative global leader in the design, manufacture, distribution and marketing of industrial grade products and services, has announced that it has entered into a definitive asset purchase agreement for the sale of its global chassis business to an affiliate of Federal-Mogul Corporation, a leading global supplier of products and services to the world's manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy duty commercial, marine, rail, aerospace, power generation and industrial markets. 

"Federal-Mogul has a history of demonstrated success in our industry, and we are pleased to entrust them with our global chassis business," said Terry McCormack, president and chief executive officer of Affinia Group. "This is an exciting opportunity for the chassis group to continue to grow and excel in its product development and service, while the sale will allow us to pay down debt and further strengthen Affinia Group."

The transaction is subject to customary regulatory approvals.