Federal-Mogul Announces Two Joint Ventures

Federal-Mogul Corp., Southfield, Mich., and Daido Metal Co. of Japan have agreed to form two joint ventures for the manufacture and sale of bearings. The first joint venture, called Federal-Mogul Daido HWB, will manufacture plain bearings for non-automotive diesel engines at two existing Federal-Mogul plants in Ilminster, England; and Les Mureaux, France. Federal-Mogul says the joint venture will invest more than $4 million in the operations in the next two years. The second joint venture will be located in Japan for the manufacture of rotating plant bearings.