Federal-Mogul Acquires DZV Bearings Company
Dec. 2, 2013—Federal-Mogul announced Monday that its foreign subsidiary, Federal-Mogul Investments B.V., has acquired DZV Bearings Company of Russia.
"The acquisition of DZV will expand Federal-Mogul's strong global position in the engine bearings market and provides an excellent growth platform to increase our presence in the commercial vehicle and industrial engine market in Russia, Central and Eastern Europe," said Richard Llope, senior vice president, Bearings for Federal-Mogul.
The transaction is still subject to customary closing conditions and approvals from regulatory authorities, and it is expected to be closed by the end of the year.
DZV is a manufacturer of bearings, bushings and thrust washers. It serves several Russian OEMs and industrial engine makers. It has 375 employees.