SOUTHFIELD, Mich. (July 17, 2014) — Federal-Mogul Holdings Corp. has completed the acquisition of certain business assets of the Honeywell Friction Materials business based in Glinde, Germany.
The acquired business operates only in Europe, China and Brazil and not in the U.S.
The acquisition does not include the Bendix friction material business, which Honeywell will continue to operate in the U.S. along with its friction joint ventures in Australia and Southeast Asia, according to Southfield-based Federal-Mogul.
“Bendix is committed to growing its U.S. aftermarket friction business through continued product innovation and also providing the outstanding quality and customer service its customers have come to expect of the Bendix brand,” Honeywell said in a statement.
Federal-Mogul sells the Wagner, Ferodo and Abex brake friction product lines in the global automotive aftermarket. The acquired Honeywell Friction business will provide the company with premium brands, including Jurid, according to Federal-Mogul.
What do you think of the tax reform proposal before Congress?
|I’m in favor of it—it’s good for business||
29% (27 votes)
|It doesn’t go far enough in helping small business.||
12% (11 votes)
|I’ll wait to see the final bill.||
19% (18 votes)
|It’s going to hurt the middle class.||
40% (37 votes)
|Total votes: 93|