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SALE OF FEDERAL-MOGUL'S CONNECTING ROD & CAMSHAFT BUSINESSES

FEDERAL-MOGUL’S CONNECTING ROD & CAMSHAFT BUSINESSES HAVE BEEN ACQUIRED BY JD NORMAN INDUSTRIES, INC.


Birmingham, Michigan – July 3, 2013 – Angle Advisors is pleased to announce that JD Norman Industries, Inc. (“JD Norman”) has acquired the connecting rod and camshaft businesses from Federal-Mogul Corporation (“Federal-Mogul”). Angle Advisors acted as the exclusive investment banking advisor to Federal-Mogul in completing this transaction.

Based in Lydney, England, the camshaft business (“Lydney”) is a leading manufacturer of chilled iron camshaft castings for automotive, heavy-duty, and motorcycle OEMs. As compared to traditional iron camshafts, chilled iron camshaft technology offers significant cost savings. Lydney provides vertically integrated value-added processes through highly automated, state-of-the-art machining cells including fettling, deep hole drilling, and end facing.


Based in Windsor, Ontario, Canada, the connecting rod business (“Windsor”) is a leading manufacturer of fully-machined connecting rods for global automotive OEMs including General Motors and Chrysler. Windsor maintains the capability to fully machine both powdered metal and forged steel connecting rods and has developed several proprietary manufacturing technologies that have enabled a highly defensible market position. Windsor’s manufacturing technologies are highlighted by two high-speed transfer lines and one flexible machining line.


“The Windsor and Lydney plants are respected for their experience and high quality operations by their customers, but were not core to Federal-Mogul Powertrain’s long-term portfolio strategy,” said Andrea Pappagallo, Federal-Mogul’s Vice President of M&A. “These plants will benefit from the industrial experience, business strategy, and respected relationships with key customers offered by the JD Norman management team. We would like to thank the team at Angle Advisors for helping execute a successful divestiture. They leveraged industry access and experience to conduct a well-tailored and confidential sale process.”


"The acquisition of the Lydney and Windsor businesses will advance JD Norman's strategic vision of building a global manufacturer with world class capabilities and service," said Justin D. Norman, president and CEO, JD Norman Industries, Inc. "By adding two key powertrain products in connecting rods and camshafts and new plant locations in Canada and the United Kingdom, JD Norman adds diversification and new markets to our portfolio. We appreciate the work that Angle Advisors did in facilitating this opportunity. Their demonstrated understanding of the businesses, processes, and market was critical in allowing for a seamless transaction.”


Federal-Mogul Corporation (NASDAQ:FDML) is a leading global supplier of products and services to the world’s manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation, and industrial markets. The company’s products and services enable improved fuel economy, reduced emissions, and enhanced vehicle safety. Federal Mogul operates two independent business segments, each with a chief executive officer reporting to Federal-Mogul’s Board of Directors. Federal-Mogul’s Powertrain Segment designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial, and transport applications. Federal-Mogul’s Vehicle Component Solutions Segment sells and distributes a broad portfolio of products through more than 20 of the world’s most recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, chassis, wipers, and other vehicle components. Federal mogul was founded in Detroit in 1899. The company employs 45,000 people in 34 countries. For more information, please visit www.federalmogul.com.


JD Norman Industries, Inc. is a diversified manufacturer of metal components and systems with operations in the United States, Mexico, Canada, and the United Kingdom. JD Norman is a leader in the manufacturing of highly engineered products including formed, machined, and cast metals. The company serves major original equipment manufacturers of automotive, industrial, and transportation products. For more information, visit www.jdnorman.com.


Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm's 33 professionals have completed 88 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.

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