Running a Shop Leadership Strategy+Planning

Federal-Mogul Signs Purchase Agreement for Portion of Honeywell Friction Business

Order Reprints

Jan. 7, 2014—Federal-Mogul announced on Tuesday its purchase of a significant portion of Honeywell, expanding its global reach in the business of brake friction materials.

The company’s European subsidiaries entered a “definitive” purchase agreement to acquire industrial brake friction businesses, including two manufacturing facilities in China and Romania.

The purchase is subject to customary approvals from regulatory authorities and stakeholders. According to a press release_notes, the businesses will close the deal during the second half of 2014.

"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,” said Carl C. Icahn, chairman of the board of Federal-Mogul. “We believe this transaction will generate significant synergies which will create substantial value for all stakeholders." 

Recommended Products

2016 Ratchet+Wrench Shop Technology Survey: Complete Report

2016 Ratchet+Wrench Shop Performance Survey: Complete Report

2017 Ratchet+Wrench Shop Technology Survey: Complete Report

Related Articles

Federal-Mogul to Purchase Affinia Chassis Components Business

Brake Parts Inc. to Acquire OE Quality Friction Inc

Federal-Mogul Appoints Four New Executives

You must login or register in order to post a comment.