Affinia Group, a US-based motor industry company, has completed the sale of its global chassis business to an affiliate of Federal-Mogul for a gross consideration of $150m.
The chassis business has operations in five locations: Oklahoma City, Oklahoma; Ramsey, New Jersey; McHenry, Illinois; Fort Wayne, Indiana and Mississauga, Ontario, Canada. It has a workforce of more than 350.
Affinia Group president and chief executive officer Keith Wilson said that divestiture of the company's Global Chassis group gives it a greater opportunity to focus on its Global Filtration and Affinia South America segments, both of which provide strong growth opportunities in the markets they serve.
"We extend our appreciation to the individuals within the Chassis team who helped lead and grow this business group over the years and wish them continued success," Wilson said.
Affinia Group specializes in the design, manufacture, distribution and marketing of industrial grade products and services, including extensive offerings of aftermarket parts for automotive and heavy-duty vehicles. The company has annual revenue of approximately $1.4bn, and has operations in North and South America, Europe, and Asia.
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