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.
Titan International and the United Steelworkers union have petitioned the U.S. International Trade Commission and U.S. Department of Commerce seeking relief from OTR tire imports from China, India and Sri Lanka. What’s your opinion?
|I wholeheartedly support their action – something needs to be done.||
|I think it’s a bad idea that could inevitably tie the hands of domestic tire makers.||
|I oppose any duties against tire importers—they only raise costs for distributors and make it harder to obtain inventory.||
|I’m kind of on the fence and not sure what’s right, but need more information before deciding.||
|I don’t really care whether or not relief is granted.||
|Total votes: 78|