The report said a holding company controlled by Federal-Mogul and the Dereli family will own 50.1% of the joint venture, and Teikoku Piston Ring Co. Ltd. of Japan will own the remaining 49.9% – the Turkish Dereli family has a relationship in other joint ventures with Federal-Mogul.
A new plant likely will be built in the free trade zone of Gebze, Turkey, to make the liners, Automotive News said.
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