Federal Mogul expands in Asia
Federal-Mogul Motorparts, the global automotive supplier, has announced two new business ventures in China and Thailand.
Federal-Mogul Motorparts and China Automotive Import and Export Co. Ltd. (CAIEC), a nationwide state-owned 4S automotive distribution network, have announced the formation of a joint venture called Federal-Mogul CAIEC Automotive Technology Services (Beijing) Co. Ltd., which will be focused on automotive aftermarket vehicle repair business within China.
Federal-Mogul Motorparts will be the preferred supplier to the joint venture, providing its broad portfolio of premium-branded automotive parts for distribution through a network of company-owned stores and outlets to be established by the joint venture under the brand name Motorcare.
Commenting on the joint venture, Dan Ninivaggi, CEO of Federal-Mogul Motorparts, said: “In a strategic expansion of our automotive aftermarket business in Asia Pacific, Federal-Mogul Motorparts is pleased to partner with CAIEC to build broader business channels and a platform for growth in China.”
In addition, Federal-Mogul Motorparts has entered into a joint venture agreement with Loxley Public Co. Ltd., under which Federal-Mogul Motorparts will own a majority stake in and have operational control of Parts Zone (Thailand) Co. Ltd., an established automotive parts distributor in Thailand.
The joint venture will be based in Bangkok. Parts Zone currently has four distribution outlets in Thailand. Two in Bangkok, one in Chiang Mai in northern Thailand and one in Surat Thani in southern Thailand. As part of the joint venture, this number of locations is expected to expand by up to a dozen additional distribution points.
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