March 31, 2015 - Long Grove, IL: MAT Holdings Inc., a global manufacturer and distributor of products in the automotive, hardware, and power equipment sectors announces its purchase of two European manufacturing plants in the braking sector from Federal-Mogul is complete, effective today. These plants include the commercial vehicle operations of Federal-Mogul Marienheide (Marienheide, Germany) and the passenger vehicle operations of Federal-Mogul Noyon (Noyon, France). Also included in the acquisition are R&D assets located in Bad Camberg, Germany, which are related to both plants.
According to Steve Wang, CEO of MAT Holdings, "we are very excited about these acquisitions and these assets will allow us to better serve both our European commercial and passenger vehicle customers with the highest quality products".
In order to address merger control clearance, Federal-Mogul agreed with the European Commission that to complete the acquisition of Honeywell Friction, it was required to divest the two friction material manufacturing facilities.
MAT Holdings Inc. today supplies an extensive line of braking components for OE and aftermarket passenger and commercial vehicles globally. The company also sells vehicle shock absorbers and struts under the Gabriel® brand in North America.
About MAT Holdings Inc.
MAT Holdings, Inc. is a privately held company, founded in 1984, that has quickly grown as a respected global manufacturer, distributor and marketer of products in the automotive, fencing, hardware, and power equipment sectors. Headquartered in Long Grove, Illinois it has operations on three continents, including 2.1 million square feet of U.S. distribution and manufacturing space, and provides its customers with a full range of services including U.S. and overseas engineering, quality assurance, logistical and distribution support, strategic warehousing, bi-lingual sourcing, product development and marketing. For more information regarding MAT Holdings, Inc. and its family of companies click here.
Federal-Mogul Holdings Corporation (NASDAQ: FDML) is a leading global supplier of products and services to the world's manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation and industrial markets. The company's products and services enable improved fuel economy, reduced emissions and enhanced vehicle safety.
Federal-Mogul was founded in Detroit in 1899 and maintains its worldwide headquarters in Southfield, Michigan. The company employs nearly 50,000 people in 34 countries. For more information, please visit www.federalmogul.com.
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