Federal-Mogul Powertrain and ANAND Group India Announce the Formation of Two New Joint Ventures

Pune, March 09, 2015: ANAND India and Federal-Mogul Powertrain, a division of Federal-Mogul Holdings Corporation (NASDAQ: FDML), today announced that they have entered into an agreement to convert the Sealing and Piston Ring businesses of ANAND into joint venture operations. The new joint ventures will be known as Federal-Mogul Anand Sealings India Limited and Anand I-Power Limited. In 1978, the companies began the joint operation of an engine bearings manufacturing facility in Parwanoo, Himachal Pradesh, India known, since 2008, as Federal-Mogul Bearings India Limited. Combining Federal Mogul’s state-of-the-art technology, research and development capabilities, global customer relationships and advanced manufacturing operations, with ANAND’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.

“We have had a long-standing strategic partnership with ANAND India for several decades. The symbiotic relationship has helped to establish us as a leading supplier of bearings in India. This expansion into sealing products will further our position as a leading supplier of engine components in India, which is a key and growing market for us,” said Andreas Kolf, Vice President and Managing Director for Federal-Mogul Powertrain, India. Identical to the already existing Bearing joint venture, Federal-Mogul Powertrain will hold a 51 percent stake of the new sealing joint venture; ANAND, along with smaller shareholders, will own 49 percent of the operation.

 This sealing joint venture will be known as Federal-Mogul ANAND Sealings India Limited (gasket business). ANAND will hold more than a majority stake in the piston ring joint venture, ANAND I-Power Limited. “This agreement will create a platform for the businesses to compete both locally and globally, and increase market share going forward,” said Mahendra K Goyal, ANAND’s Group President – Aftermarket and Business Group III.

Mrs. Anjali Singh, Chairperson of ANAND Supervisory Board, said, “With Federal-Mogul Powertrain being a global leader in the engine parts business, this partnership will help the three joint ventures offer state-of-the art technology and best practices to all automotive and industrial engine OEMs in India. The main aim of this strengthened JV partnership between Federal-Mogul and ANAND is to help attain leadership positions for these three businesses in their respective product lines and improve its value offering to all of its stakeholders.”

About Federal-Mogul 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 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, chassis, wipers and other vehicle components. The company’s aftermarket brands include ANCO® wiper blades; Champion® spark plugs, wipers and filters; AE® , Fel-Pro® , FP Diesel® , Goetze® , Glyco® , Nüral® , Payen® and Sealed Power® engine products; MOOG® steering and suspension parts; and Ferodo® , Jurid® and Wagner® brake products. 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.

About ANAND ANAND is among India's leading manufacturers of automotive systems and components. Anand was established in the year 1961 with Gabriel India as its first venture, the group’s flagship company in Mumbai for manufacturing shock absorbers. Today, with 19 companies spread across 51 locations and eleven states of the country, Anand is the country’s leading OEM supplier. The group is well known for its established and successful partnerships with a number of leading automotive component companies from around the world. Anand has a total of 21 global alliances, 14 joint ventures and seven technical collaborations, all of which stand testimony to Anand’s well recognized spirit of partnership. The group firmly believes that business is 90 per cent people and takes pride in its dedicated workforce of 13,000 people. The group has pioneered number human resource practices, which have become benchmark in the industry.