Dimitrovgrad Engine Bearing Factory has been incorporated into Federal Mogul

Dimitrovgrad Engine Bearing Factory has been incorporated into Federal Mogul

RusAutoNews.Com – Icahn Enterprises, owned by the American investor Carl Icahn, has acquired Dimitrov Engine Bearing Factory (DZV). Federal-Mogul Group, one of Icahn Enterprises’ assets, had been carrying out negotiations in order to acquire the factory, since Autumn 2013. The amount paid by Icahn Enterprises has been announced as $17 million. The factory has been renamed as: Federal-Mogul Dimitrovgrad LLC.

“The acquisition of DZV will expand Federal Mogul’s strong global position in the engine bearings market and provides an excellent growth platform to increase our presence in the commercial vehicle and industrial engine market in Russia, Central and Eastern Europe,” Richard Llope, senior vice president of bearings for Federal Mogul, said in a news release.

Federal Mogul already operates pistons plants in Russia, in the cities of Naberezhnye Chelny amd Tolyatti.

Dimitrovgrad factory has an annual production capacity of: 40 million engine bearings, 5.5 million bushings and 3.5 million thrust washers. Manufacturers such as: AvtoVAZ, KamAZ, GAZ Group affiliate: Yaroslavl Engine Factory and Minsk Engine Factory are amongst the clients of the factory. 75% of the production is put on the components market.