Federal-Mogul to sell connecting rod and camshaft business
Federal-Mogul Corporation's Powertrain Segment announced July 1 that it entered a definitive agreement to sell its connecting rod and camshaft business to JD Norman Industries Inc. with an effective date of June 28, 2013.
The sale involves Federal Mogul's sole connecting rod machining plant, located in Windsor, Canada and only camshaft foundry, located in Lydney, United Kingdom. As part of the agreement JD Norman Industries will continue to employ Federal-Mogul's current 230 associates working in these two facilities.
"The Windsor and Lydney plants are respected for their experience and high quality operations by their customers, including General Motors, Ford, Chrysler, Linamar, Jaguar, Land Rover, PSA and others, however the connecting rod and camshaft business is not core to Federal-Mogul Powertrain's long-term portfolio strategy," said Rainer Jueckstock, Federal Mogul's co-CEO and CEO Federal-Mogul Powertrain. "These plants will benefit from the industrial experience, business strategy and respected relationships with key customers offered by the JD Norman management team. We will work with them to ensure a smooth transition for customers, employees and other stakeholders."
Federal-Mogul operates two independent business segments, each with a chief executive officer reporting to Federal-Mogul's Board of Directors. Federal-Mogul's Powertrain Segment designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial and transport applications. Federal-Mogul's Vehicle Component Solutions Segment sells and distributes a broad portfolio of products through more than 20 recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, chassis, wipers and other vehicle components. For more information visit www.federalmogul.com.
JD Norman Industries is a diversified manufacturer of metal components and systems with operations in the United States, Mexico, Canada and the United Kingdom. JD Norman is a leader in the manufacturing of highly engineered product included formed, machined and cast metals. The company serves major original equipment manufacturers of automotive, industrial and transportation products. For more information visit www.jdnorman.com.
Subscribe to Aftermarket Business World and receive articles like this every month….absolutely free. Click here.
