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.November 12, 2003
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This Week:

• Infiniti Introduces All-New QX56 Full-Size Luxury SUV

• The Minivan Formula

• Hyundai Names Newest SUV the Tucson

• BMW X3 Makes Official North American Auto Show Debut At South Florida International Auto Show

• Luxury Volkswagen Phaeton Arrives to Miami Auto Show - 'Represents Great Value in German Luxury Class'

• Toyota Announces $15 Million Expansion Of Facility In Erlanger, Kentucky

• Porsche sales up 85 percent in North America

• $400 Million Engine Plant Powers Holden's Global Drive

• Flagship Diesel Engine To Be Built At Dagenham

• Federal-Mogul Announces Joint Venture in Turkey

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Federal-Mogul Announces Joint Venture in Turkey
 

SOUTHFIELD, Mich. - Federal-Mogul Corporation announced that it will produce cylinder liners for a Japanese automaker in a new joint venture in Europe. Teikoku Piston Ring Co., Ltd. of Japan will own 49.9 percent of the company, and a holding company -- comprised of Federal-Mogul and a Dereli family-owned company -- will own 50.1 percent. It is anticipated that a new plant will be built to produce the cylinder liners in Gebze, a free trade zone about 25 miles east of Istanbul, Turkey, by mid-February 2004. "The rings and liners group has made significant progress in becoming globally connected to Teikoku and Japanese car makers such as Toyota, Honda and Nissan," said Rainer Jueckstock, senior vice president, pistons, rings and liners. The existing Federal-Mogul relationship with Teikoku includes joint ventures that manufacture piston rings and cylinder liners in the United States, Germany, India and China.

Federal-Mogul also has a long-standing relationship with the Dereli family and currently has joint ventures in Turkey making pistons, rings, pins and liners, as well as selling other engine parts such as bearings and gaskets.

(Nov 10, 2003)