Federal-Mogul Holdings Corporation today announced that its Motorparts Division has completed the previously announced acquisition of certain business assets of the Honeywell Friction Materials business. The Honeywell Friction Materials business is headquartered in Glinde, Germany, with significant operations in Romania and China.
Daniel Ninivaggi
“The acquisition of Honeywell’s friction business substantially strengthens the manufacturing and engineering capabilities of Federal-Mogul Motorparts’ current global braking portfolio,” said Daniel Ninivaggi, Federal-Mogul Co-CEO and CEO, Federal-Mogul Motorparts. “This acquisition enables us to accelerate our long-term strategy of enhancing our core braking product lines with a globally competitive footprint and market-leading technology. It also further strengthens our market leadership in the OE and aftermarket segments, particularly in Europe and Asia.”
The acquired business operates only in Europe, China and Brazil and not in the United States. As described in the definitive transaction agreements, the transaction does not include the Bendix name or line of products or any assets, liabilities or business in the United States. In addition as further described in the definitive transaction agreement, Honeywell retains any and all liability for asbestos product liability or similar claims and has committed to indemnify Federal-Mogul for such claims.
Federal-Mogul Motorparts is an industry leader in brake friction materials, with global applications for original equipment light vehicle, commercial vehicle and heavy-duty markets. The company sells the Wagner, Ferodo and Abex brake friction product lines in the global automotive aftermarket. The Honeywell Friction business will provide the company with premium brands, including Jurid. Federal-Mogul is among the first brake friction companies to offer low- and zero-copper brake formulations for original equipment customers, and recently launched low copper brake pads in the aftermarket as well.
