Federal Mogul acquires Indian piston ring company

Southfield, Michigan - Federal-Mogul Corp. has bought shares to bring its stake in its long-standing Indian joint venture company, Goetze (India) Limited (GIL), to 50.1 percent.

GIL is a publicly traded supplier of automotive pistons, rings, liners, pins and sintered products. Federal Mogul said the transaction supports the company's growth strategy by expanding its presence in India, a key market for its global automotive products and aftermarket business.

Headquartered in New Delhi, Federal-Mogul's GIL business has three operations in India - located in Patiala, Bangalore and Bhiwadi - with nearly 5,000 employees. The Indian market leader in pistons and piston rings, GIL supplies all major Indian original equipment manufacturers in the automotive, heavy-duty, motorcycle, industrial and agricultural markets, in addition to a variety of aftermarket customers. GIL's 2005 net sales exceeded Rs 4300 million (about €74 million).

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Press release from Federal_Mogul

Federal-Mogul ups stake in Goetze to 50 pc The Hindu Business Line (India)