SOUTHFIELD, Mich. – Federal-Mogul announced that its foreign subsidiary, Federal-Mogul Investments B.V., has entered into a definitive agreement to purchase the DZV Bearings Co., a privately held business located in Dimitrovgrad, Russia.
DZV is a respected manufacturer of engine bearings, bushings and thrust washers. It serves several leading Russian original equipment commercial vehicle and industrial engine manufacturers. DZV also supplies the commercial engine repair market. The company employs 375 associates.
Federal-Mogul’s Powertrain unit today operates two plants in Russia: a plant in Naberezhnye Chelny producing pistons, piston rings and liners, and a plant in Togliatti producing pistons.
“The acquisition of DZV will expand Federal-Mogul’s strong global position in the engine bearings market and provides an excellent growth platform to increase our presence in the commercial vehicle and industrial engine market in Russia, Central and Eastern Europe,” said Richard Llope, senior vice president, Bearings for Federal-Mogul.
The transaction is subject to customary closing conditions and approvals from regulatory authorities and is expected to close by year-end, or early in the first quarter of 2014.