The first aluminum diesel piston rolled off the line today at Federal-Mogul Corporation's (NASDAQ:FDML) joint venture with KAMAZ, the leading manufacturer of heavy-duty trucks in Russia. The 50/50 JV, called Federal-Mogul Naberezhnye Chelny, located in Tatarstan, Russia, will produce pistons, piston rings and cylinder liners for KAMAZ's OE and OES products, and serve the Russian and global automotive and aftermarket industries.
The JV is the third Federal-Mogul operation in Russia and further demonstrates the company's commitment to participate in Russia's dynamic market. Federal-Mogul has a manufacturing plant in Togliatti and an aftermarket sales office in Moscow.
"The Russian market is an integral part of Federal-Mogul's strategy for long-term success and profitability," said Rainer Jueckstock, senior vice president of Powertrain Energy for Federal-Mogul. "We are diligently working to increase business growth in key areas of the world, like Russia, while continuing to strengthen our market leadership globally.
"We are extremely pleased with the progress of our new Joint Venture with KAMAZ, the leading heavy-duty truck manufacturer in Russia," Jueckstock said. "The market strength and engine know-how of KAMAZ, combined with Federal-Mogul's leading innovative technologies and expertise as a world-class powertrain and vehicle components supplier, will deliver truly competitive customer solutions to the marketplace. This partnership represents for Federal-Mogul a strategic development in our customer, market and product diversification."
The Joint Venture will manufacture components for current KAMAZ engines and other powertrain applications, and will employ more than 250 people by 2011. The next phase, anticipated to start in 2010, will extend the JV's product range to provide components compliant with Euro-4 emissions regulations. The agreement between Federal-Mogul and KAMAZ brings to the forefront the best the companies have to offer: Federal-Mogul's leading technology for aluminum diesel pistons and KAMAZ's experience and manufacturing expertise in Russia.
Federal-Mogul supplies leading aftermarket brands in the region, such as Goetze® piston rings, Champion® wiper blades and Ferodo® brake pads.
About Federal-Mogul
Federal-Mogul Corporation is a leading global supplier of powertrain, chassis and safety technologies, serving the world's foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company's leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its sustainable global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs nearly 40,000 people in 36 countries. Visit the company's Web site at www.federalmogul.com.
Federal-Mogul's aftermarket products are sold under a variety of brands, including but not limited to, AE® engine products, ANCO® wipers, Champion® spark plugs and wipers, Fel-Pro® gaskets, Ferodo® brake pads, Glyco® bearings, Goetze® piston rings, Moog® chassis products, National® wheel-end components, Nural® pistons, Payen® gaskets, Sealed Power® engine products and Wagner® brake and lighting products. Visit the company's Web site at www.federalmogul.com.
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