Federal-Mogul and Teikoku Piston Ring have formed a joint venture to manufacture high performance steel piston rings.
United Piston Rings, as the new company is to be called, will manufacture at Federal-Mogul’s current Manitowoc, Wisconsin facility in the US.
The Manitowoc factory currently employs 600 people engaged in the production of original equipment and replacement rings for a broad range of automotive and heavy-duty diesel applications.
Federal-Mogul and Teikoku will together invest approximately $10 million in the new company over the next year.
Teikoku Piston Ring and Federal-Mogul currently have joint ventures in China, India, the UK and the US as well as technology license agreements in Germany, France, Turkey, Korea, the UK and the US.
This is the second joint venture in the US between the two companies. A cylinder liner joint venture in Lake City, Minnesota was established in 1999.