PR Newswire, the US Federal-Mogul Group announced on March 1 that it will invest in a joint venture in Changsha to produce a large-bore Piston ring. Federal-Mogul Zhengsheng (Changsha) Piston Ring Co., Ltd. for commercial shipping, railways, energy and Off-highway industrial engines provide high-tech piston rings. The new project will become the second large bore piston ring production plant to be invested in China, further perfecting the two-cycle and four-stroke piston ring product portfolio, thereby consolidating its leading position in the industrial piston ring business in China and Asia. The completion of the transaction depends on the usual conditions, including the legal approval of the joint venture.
[We expect that with the increase in the industrial engine upgrade in China, the market prospects of high-tech and world-class high-piston piston rings will further increase." Weng Weibo, vice president of Federal-Mogul (China) Co., Ltd., stated that [this investment is a Federal-Mogul company. Another important step in improving the local operations of its globally renowned brand Goetze and DAROS piston bore rings."
The new joint venture factory is located in the Changsha Economic and Technological Development Zone and occupies an area of 25,000 square meters. The new production plant will soon be put into operation. The joint venture is controlled by Federal-Mogul, while the Chinese partner invests in shares with its Changsha Zhengsheng Piston Ring Co., Ltd. and will continue to support customer maintenance and customer development.
After joint venture with Changsha Zhengsheng Piston Ring Co., Ltd., Federal-Mogul plans to further upgrade and renovate the existing production lines and technology. At the same time, it will introduce a four-stroke production line including ceramic chrome-plated surface treatment to produce low-emission, high-life, high-quality industrial piston ring products.
The piston ring is a critical component of large-diameter industrial engines and is a guarantee for smooth and efficient operation under severe operating conditions. The Federal-Mogul Group has world-leading technology for the development and production of large bore piston rings, providing products and services to industrial engine customers worldwide, including Germany's MAN and MTU Group, Finland's Wartsila, Korea's Doosan, Japan's Mitsubishi, and US Caterpillar. And other famous industrial engine manufacturers.
[Following the completion of this joint venture, Federal-Mogul will continue to expand the business of the middle and high-end customers in Asia on the basis of continuing to serve the original customers of Changsha Zhengsheng Piston Ring Co., Ltd.," Mr. Weng added. [The joint venture helps us enter the emerging markets. At the same time, it also provides regional customers with better products and services."
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