India: Federal-Mogul acquires majority stake in Goetze

摘要

FEDERAL-MOGUL has increased its holding in its Indian joint venture Goetze (India) Limited (GIL) to a majority stake for Rs1.38bn (US$30.25m). Federal-Mogul now holds 50.1% in the unit. "Federal-Mogul's increased investment in GIL is a key part of our strategy to drive global profitable growth by providing our leading technology, and world-class quality products and services in India, one of the most dynamic and growing economies of the world," said Jose Maria Alapont, Federal-Mogul chairman, president and chief executive officer.