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Federal-Mogul (NASDAQ: FDML), Southfield, MI, has acquired the Daros Group, a privately-owned supplier of high technology piston rings for large-bore engines used in industrial energy generation and commercial shipping, with operations in China, Germany and Sweden. Details of the transaction were not disclosed.
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The acquisition enhances Federal-Mogul's global position in the industrial piston rings market by creating an extensive portfolio of two-stroke and four-stroke piston ring products.
"The market for industrial engine piston rings is growing, as global energy companies and expanding global logistics providers require additional power generation and shipping capacity. Federal-Mogul and Daros have a strong, complementary product portfolio and global footprint," said Jose Maria Alapont, Federal-Mogul president and CEO. "This acquisition also will enable Federal-Mogul to capitalize on new market growth utilizing integrated global engineering and manufacturing capacity."
Both Federal-Mogul and Daros specialize in products for related markets, such as wind energy.
Federal-Mogul Corporation is a global supplier of powertrain and safety technologies, serving original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket.