Federal-Mogul Expands Strategic Alliance With Teikoku Piston Ring Co., Ltd.
31 March 2000
Federal-Mogul Expands Strategic Alliance With Teikoku Piston Ring Co., Ltd.SOUTHFIELD, Mich., March 31 Federal-Mogul Corporation announced today that it has signed agreements to expand its strategic alliance with Teikoku Piston Ring Co., Ltd., (TPR). The arrangements include the licensing of certain technology and TPR will take a minority position in Federal-Mogul's Sunderland, United Kingdom, piston ring manufacturing operation. The facility has approximately 540 employees. "We are pleased to have this opportunity to deepen our global relationship with Teikoku," said Dick Snell, chairman and chief executive officer, Federal-Mogul Corporation. Federal-Mogul and TPR currently have joint ventures in China, India and the United Kingdom, as well as technology license agreements in Germany, France, Turkey, Korea, the United Kingdom and the United States of America. TPR, a manufacturer of engine parts, including piston rings and cylinder liners for use in automobiles, ships, construction machinery, agricultural machinery and other industrial machinery, was founded in 1939 and is headquartered in Tokyo, Japan. Headquartered in Southfield, Michigan, Federal-Mogul is an automotive parts manufacturer providing innovative solutions and systems to global customers in the automotive, small engine, heavy-duty and industrial markets. The company was founded in 1899. Visit the company's web site at http://www.federal-mogul.com for more information. Federal-Mogul's press releases are available by fax through Company News On-Call, call 800-758-5804, ext. 306225.