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Anand Group, Federal-Mogul


announce formation of JV
Federal-Mogul Powertrain will hold 51% in the new sealing joint venture; Anand and smaller
shareholders will own 49%
BS Reporter | Pune
March 10, 2015 Last Updated at 20:55 IST

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Auto-parts manufacturer Anand India and US based


Federal-Mogul Powertrain today entered into an
agreement to convert the sealing and piston ring
businesses of Anand India into a joint venture operation.
Both the companies, however, did not disclose any
financial details.
The JV will be called as Federal-Mogul Anand Sealings
The deal maker image via
Shutterstock.

India and Anand I-Power.

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"The main aim of this strengthened JV partnership between Federal-Mogul and Anand is to
attain leadership positions for these three businesses in their respective product lines and
improve its value offering to all of its stakeholders. We are offering technology support and
investing heavily in this joint venture," says Rainer Jueckstock, CEO, Federal-Mogul Powertrain.
Federal-Mogul Powertrain will hold a 51 percent stake in the new sealing joint venture; Anand,
along with smaller shareholders, will own 49 percent. This sealing joint venture will be known as
Federal-Mogul Anand Sealings India (gasket business). Anand will hold more than a majority
stake in the piston ring joint venture, Anand I-Power.
Deepak Chopra, Anand Group said, "This expansion into sealing products will further strengthen
our position as a leading supplier of engine components in India, which is a key and growing
market for us. Combining Federal Mogul's advanced technology, research and development
capabilities, global customer relationships and advanced manufacturing operations and Anand
Group's deep access to local customers and suppliers, and expertise in human resource
management and development, will ensure a bright future for the joint ventures. This agreement
will create a platform for the businesses to compete both locally and globally, and increase
market share going forward."
Federal-Mogul Bearings India has recorded annual turnover of $ 250 million (approx. Rs 1500
crore ) together with its 12 plants across India. It is already supplying components to some
Indian OEMs. The jv will help to strengthen its customer base in India. Along with US, Europe
and India, Federal-Mogul is now expanding its base in China.
Federal Mogul and Anand operate a JV Federal Mogul Bearings India Ltd since 2008. The
company was originally established as Gabriel Engine Bearings Division in 1978 and
manufactures a complete range of bi metal copper lead and aluminium tin bearings, bushes,
flanges and thrust washers.

READ MORE ON

ANAND GROUP

RAINER JUECKSTOCK

FEDERAL-MOGUL

PISTON RING

JOINT VENTURE

DEEPAK CHOPRA

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