SOUTHFIELD, Mich.—Federal-Mogul Holdings Corp.'s Powertrain division has completed its acquisition of TRW's Engine Components business by purchasing TRW's ownership shares in two engine components joint ventures.
The acquired business is headquartered in Barsinghausen, Germany, and employs nearly 4,000 globally.
“We are pleased to complete the acquisition of TRW's engine components business, which strengthens Federal-Mogul Powertrain's market position as a leading developer and supplier of core engine components,” Rainer Jueckstock, CEO of Federal-Mogul Powertrain and Co-CEO of Federal-Mogul Holdings Corp., said in a statement. “It's been several months since we acquired the majority of the business, and today completes the process with the addition of the valve train operations in Tennessee and Thailand.”
Federal-Mogul's Powertrain division is a leading provider of powertrain components, designing and manufacturing products for automotive, heavy-duty, industrial and marine applications.