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Federal-Mogul to Buy TRW’s Engine Valve Business
TRW Automotive Holdings Corp. has agreed to sell its engine valve business for $385 million in cash to Federal-Mogul Holdings Corp.
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TRW Automotive Holdings Corp. has agreed to sell its engine valve business for $385 million in cash to Federal-Mogul Holdings Corp.
The companies expect to complete the deal in the first quarter of 2015.
The valve unit currently generates about $610 million in annual sales, according to TRW. The company says selling the business will help it focus on its fast-growing passive and active safety technologies operations.