By Dustin Walsh, Crain News Service
SOUTHFIELD, Mich. (Jan. 24, 2014) — Diversified auto parts supplier Federal-Mogul Corp. has agreed to acquire the chassis components business of Affinia Group Inc.
Terms of the transaction were not disclosed and the deal is subject to regulatory approvals, Federal-Mogul said Jan. 22. The business unit makes steering, suspension and driveline components; 2012 sales were $194 million, according to Affinia.
Southfield-based Federal-Mogul will take control of Affinia's global chassis operations in the U.S. and Canada, but specific locations are yet to be finalized, Federal-Mogul spokesman Jim Burke said in an e-mail. The Affinia chassis components business is based in McHenry, Ill.
The transaction will include around 350 Affinia employees, Mr. Burke said.