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Federal-Mogul Announces Sale Of Its Connecting Rod And Camshaft Business
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Federal-Mogul Corp.'s Powertrain Segment has entered a definitive agreement to sell its connecting rod and camshaft business to JD Norman Industries Inc., effective June 28, 2013.
JD Norman Industries is a diversified manufacturer of metal components and systems with operations in the United States, Mexico, Canada and the UK. The company serves major OEMs of automotive, industrial and transportation products.
The sale involves Federal-Mogul's sole connecting rod machining plant, located in Windsor, Canada, and only camshaft foundry, located in Lydney, UK. 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 of 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."
JD Norman Industries is a diversified manufacturer of metal components and systems with operations in the United States, Mexico, Canada and the UK. The company serves major OEMs of automotive, industrial and transportation products.
The sale involves Federal-Mogul's sole connecting rod machining plant, located in Windsor, Canada, and only camshaft foundry, located in Lydney, UK. 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 of 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."
