On March 26, the signing ceremony of Dongfeng Federal Mogul Piston Business Joint Venture Contract was held in Shiyan , which was an important measure for Dongfeng Motor Parts and Components Group Co., Ltd. and Federal Mogul Corporation to implement national industrial planning and structural adjustment requirements, realize strong-strong alliance and complementation of advantages, and boost high-quality development of piston business. The new joint venture is to invest RMB 400 million into Dongfeng Parts Group Industry Park in Zhangwan District, Shiyan, and to build a modern integrating design, manufacturing and sale of diesel pistons, and its target is to achieve sales revenue of RMB 380 million by 2022, and some of products will be exported to target North America. The new joint venture is to design and produce high-performance piston products for the automotive engines of China’s and Dongfeng’s automobile enterprises, provide high-quality service, enhance heat efficiency of traditional energy engine and reduce carbon emission, for the purpose of meeting requirements of current and future environmental laws and regulations.
CHEN Xinglin, general manager of Dongfeng Motor Parts and Components Group Co., Ltd., CHENG Yin president of Federal Mogul in Chinese and Korean Zone, director of China Piston Business Unit of Federal Mogul, and ZHOU Zongguo general manager of Qingdao Federal Mogul jointly signed Dongfeng Federal Mogul Piston Business Joint Venture Contract. XIAO Dayou, presided over the signing ceremony.
Federal Mogul Corporation is a globally leading manufacturer and service provider of vehicle and industrial equipment parts, serving globally diversified sectors, such as automobile, commercial vehicle, aviation, ocean transport equipment, railway, power generation and industry. Since 1995 when its first production plant was built in China, Federal Mogul Corporation has owned 12 solely-funded and jointly-funded plants. Dongfeng Federal Mogul Piston Business Project is its second piston in China.