Federal-Mogul Buys Piston Ring Caster Daros
June 25, 2010
Released on June 15, 2010
Automotive supplier Federal-Mogul, Southfield, Mich., announced it has acquired the Daros Group, Sweden, a supplier of cast piston rings for large-bore engines used in industrial energy generation and commercial shipping.
Federal-Mogul said the acquisition (the terms of which were not disclosed) would enhance its offerings by adding two-stroke and four-stroke piston ring products to its portfolio.
“The market for industrial engine piston rings is growing,” said José Maria Alapont, Federal-Mogul president and chief executive officer. “Federal-Mogul and Daros have a strong, complementary product portfolio and global footprint.”
Industrial piston rings are used mainly in large engines with a power output up to more than 100,000 kW and used in commercial ships like container vessels, super tankers and bulk carriers. The rings are made of cast iron, machined and finished with wear resistant coatings. Piston rings seal the combustion chamber in the engine while the piston moves up and down inside the cylinder.
The Daros Group’s piston ring business, which has operations in China, Germany and Sweden, adds approximately 220 employees to Federal-Mogul’s global operations, which employs nearly 41,000 people in 33 countries.