Corteco Acquires Omega Power Steering Hose Brand; Expands Product Offering

PLYMOUTH, Mich., July 18 -- Corteco has broadened its offering of aftermarket products with the acquisition of the Omega power steering hose and rebuild kit business in Solon, Ohio from Federal-Mogul. Terms of the agreements were not disclosed.

"This targeted acquisition further expands our already significant product offerings for Corteco's targeted customer base in the traditional aftermarket," said Phillip A. Damaska, President of Corteco, the aftermarket business of Freudenberg-NOK. "Our short-term plan is to expand the hose line offering to an industry leading position allowing the Omega brand of hoses to regain its historically strong position."

Distribution will be relocated to Corteco's Milan, Ohio facility, allowing customers to receive all products from one location. Hose production will be moved from the current facility in Solon, Ohio to a separate facility in the same general location to retain the experienced workforce.

Corteco is a one-stop shopping solution for gasket and sealing needs -- offering a full range of original equipment products for the automotive aftermarket. The company currently ships 4.5 million transmission kits, 1.6 million power steering kits and 1.4 million engine gasket kits per year, covering virtually all vehicles sold in the North American market.

Corteco is the aftermarket business of Plymouth, Mich.-based Freudenberg- NOK, part of the Freudenberg and NOK Group Companies, with total annual sales of nearly $7 billion and worldwide automotive sales of approximately $4 billion. The Freudenberg and NOK Group is among the world's largest and most globally balanced automotive technology suppliers.

For more information, visit Corteco's web site at www.corteco-usa.com and the Freudenberg-NOK web site at www.freudenberg-nok.com .