On July 21, 2015, the powertrain of Federal-Mogul Group (NASDAQ: FDML) announced today that it has officially established a large bore piston ring joint venture in Changsha, China. After formal operations, Federal-Mogul Zhengsheng (Changsha) Piston Ring Co., Ltd. has become a leading industrial piston ring company in China and Asia, providing large-piston piston rings for commercial ships, railways, and power generation.

The controlling party of the joint venture, the Federal-Mogul Powertrain will inject new global technology, proprietary manufacturing processes and global customer resources for the new company, while the founders of the joint venture party Changsha Zhengsheng Piston Ring Co., Ltd. Yan Chungeng and Yan Kai will continue Responsible for business relationship and development of Chinese customers of joint ventures.

“Increase in stringent environmental protection regulations has prompted all industries in China to continuously improve product performance and further improve fuel efficiency and emission reduction capabilities.” Michael Hedderich, senior vice president of Federal-Mogul Powertrain, said, “In response to this trend, we have invested in large cylinder bores in Changsha. The piston ring business will bring new business opportunities to the development of the Federal-Mogul Powertrain in China."

The joint venture company is located in the Changsha Economic and Technological Development Zone and occupies an area of ​​25,000 square meters. It is engaged in all the production and business activities of the joint venture party, Yuan Zhengzheng. Changsha Zhengsheng Piston Ring Co., Ltd. has more than 70 years of development history in China. Its customers include numerous domestic host customers, and it is the leader of industrial piston ring suppliers in China's marine and railway industries.

“In addition to continuing the production and marketing of the “Zhengsheng” brand piston rings, the new company will also introduce the Goetze® 4-stroke piston ring production line from Germany to produce low-emission, high-life, high-quality industrial piston ring products to fill domestic high-end products. The blanks meet the needs of customers for energy-saving and emission reduction,” said Liu Xiaolong, general manager of Federal-Mogul Zhengsheng (Changsha) Piston Ring Co., Ltd.

At present, its annual production capacity of 2.5 million four-stroke industrial piston rings is a leading supplier of industrial piston rings in China's commercial shipping and railway industries.

Federal-Mogul completed its first manufacturing plant in China in 1995. With globally-connected engineering capabilities and localized production capabilities, Federal-Mogul Powertrain has established a leading position in the Chinese automotive market, providing sustainable high-performance engine components for Chinese automotive market customers. Today, the Federal-Mogul Powertrain has opened 13 wholly-owned or joint venture companies in nine cities. Federal-Mogul Powertrain Shanghai Asia Pacific Technology Center is one of Federal-Mogul's global networking engineering and technology centers, providing leading technology and services to vehicle manufacturers in China and other Asian countries.

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