Federal-Mogul Powertrain, a division of Federal-Mogul Holdings Corporation, has announced that it has closed on material portions of the previously announced acquisition of TRW’s engine valve business. The acquired business, headquartered in Barsinghausen, Germany, employs nearly 4,000 people globally.
“We are extremely excited about this strategic acquisition, as it adds a completely new product line that is very complementary to Federal-Mogul Powertrain’s portfolio. This engine valve business enables us to provide more value to our customers who look to us to help them improve fuel economy, reduce emissions and enhance vehicle performance on a global basis,” said Rainer Jueckstock, CEO, Federal-Mogul Powertrain and Co-CEO, Federal-Mogul Holdings Corp.
Federal-Mogul’s Powertrain division is a leading provider of powertrain components, designing and manufacturing products for automotive, heavy-duty, industrial and marine applications. The company's products and services enable improved fuel economy, reduced emissions and enhanced vehicle performance.