Federal-Mogul to acquire large portion of Honeywell friction business

Newsroom 09/01/2014 | 09:23

US-based Federal-Mogul, a maker of car parts and industrial equipments, will take over a large share of Honeywell’s automotive and industrial brake friction business, including a local plant.

According to www.autonews.com, the deal is worth around USD 155 million and should be concluded during the second half of 2014, pending regulatory approvals.

“This acquisition accelerates Federal-Mogul’s long-term strategy to strengthen its core product lines, including its global friction portfolio for both original equipment and aftermarket customers.  We believe this transaction will generate significant synergies which will create substantial value for all stakeholders,” stated Carl C. Icahn, chairman of the board of Federal-Mogul.

Under the deal, Federal-Mogul has also taken over two recently established manufacturing facilities in China and Romania from Honeywell.

Kevin Freeland (in picture), CEO, Federal-Mogul vehicle components, said: “Honeywell’s recognized braking technology and its restructured manufacturing footprint make the acquisition a solid addition to our existing global friction business.”

Honeywell Friction Material busines is based in Germany and employs over 2,000 people globally.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Newsroom | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue