Federal-Mogul Powertrain and YURA TECH Announce New Ignition Joint Venture in South Korea
Expansion of Global Footprint to Support Korean Vehicle Manufacturers

Sejong, South Korea, September 14, 2018….Federal-Mogul Powertrain has announced a new ignition spark plug joint venture with South Korean automotive parts supplier YURA TECH Co., Ltd.. The establishment of this new company further expands Federal-Mogul Powertrain’s global footprint and will provide high-class ignition products to leading Korean global OEMs. Federal-Mogul Powertrain will hold a 51 percent stake in the new joint venture, located in Sejong, South Korea.

“South Korea is an important and growing market for Federal-Mogul Powertrain,” said Sunit Kapur, Vice President and General Manager, Global Ignition, Federal-Mogul Powertrain. “YURA TECH is a leading automotive supplier with an ignition product portfolio that complements our existing expertise. Federal-Mogul Powertrain will provide leading design, engineering and manufacturing technologies and techniques to produce high-performance ignition products, while YURA TECH will continue to drive the business with Korean global OEMs. This joint venture will enhance Federal-Mogul Powertrain’s position as an advanced engine part supplier in Asia.”

“YURA TECH has more than 30 years’ experience in research and manufacturing of wire harness products, car electronics and ignition products, and a long-standing relationship with Federal-Mogul Powertrain,” said Lee, Eek Hee, President, YURA TECH. “Our ignition partnership is a win-win strategy that compliments each company’s strengths to inspire sustainable business growth. It also lays a valuable foundation from which the joint venture can expand in the future.”

Federal-Mogul first established manufacturing operations in Korea in 1988 and with this announcement is now operating four plants, either wholly-owned or through joint ventures, that between them produce pistons, bearings, system protection and ignition products. The new joint venture will integrate YURA TECH’s existing Sejong-based spark plug plant and will also establish a subsidiary in Qingdao, China later this year, which then will lead to the integration of Federal-Mogul Powertrain’s existing Qingdao ignition plant.

Through this joint venture, Federal-Mogul Powertrain will localize all leading ignition technologies in Korea and China, and serve the Asia market from these two ignition plants.

About Federal-Mogul

Federal-Mogul LLC 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 operates two independent business divisions, each with a chief executive officer reporting to Federal-Mogul's Board of Directors.

Federal-Mogul Powertrain designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial and transport applications.

Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 of the world’s most recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, wipers and a range of chassis components. The company’s aftermarket brands include ANCO® wipers; Beck/Arnley® premium OE quality parts and fluids; BERU®* ignition systems; Champion® lighting, spark plugs, wipers and filters; Interfil® filters; AE®, Fel-Pro®, FP Diesel®, Goetze®, Glyco®, National®, Nüral®, Payen®, Sealed Power® and Speed-Pro® engine products; MOOG® chassis components; and Abex®, Ferodo®, Jurid® and Wagner® brake products and lighting.

Federal-Mogul was founded in Detroit in 1899 and maintains its worldwide headquarters in Southfield, Michigan. The company employs nearly 55,000 in 24 countries. For more information, please visit www.federalmogul.com.

 

*BERU is a registered trademark of BorgWarner

 

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For further information: Jane Yuan, Federal-Mogul Powertrain, 86 21 6182 7515, jane.yuan@federalmogul.com