Federal-Mogul Powertrain, a division of Federal-Mogul Holdings Corporation (NASDAQ: FDML), today announced that it purchased TRW's ownership shares in two engine components joint ventures, completing its acquisition of TRW's Engine Components business.
The acquired business, headquartered in Barsinghausen, Germany, employs nearly 4,000 people globally.
"We are pleased to complete the acquisition of TRW's engine components business which strengthens Federal-Mogul Powertrain's market position as a leading developer and supplier of core engine components," said Rainer Jueckstock CEO, Federal-Mogul Powertrain and Co-CEO, Federal-Mogul Holdings Corp. "It's been several months since we acquired the majority of the business and today completes the process with the addition of the valvetrain operations in Tennessee and Thailand."
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.