Federal-Mogul to Purchase Affinia Chassis Components Business
Jan. 22, 2014—Federal-Mogul Corp. announced Wednesday that it has entered into a definitive asset purchase agreement to acquire Affinia Group Inc.'s chassis components business.
The Affinia business serves U.S. aftermarket customers with branded and private label chassis product lines.
"I believe there continue to be attractive opportunities for growth in the global automotive aftermarket," said Carl Icahn, chairman of the board of Federal-Mogul. "The board of Federal-Mogul remains committed to pursuing initiatives, like the Affinia chassis transaction and the recently announced Honeywell friction acquisition, to broaden the company's product offering, provide operational synergies and better serve customers globally. Our objective is simple: we want to make Federal-Mogul products the preferred choice of automotive service providers in every product category and every segment we serve."
The transaction is subject to customary regulatory approvals.