Continental Teves, Piston Automotive Create Brake System Joint Venture.(Piston Modules)(Brief Article)

Piston Automotive and Continental Teves N.A. said they have formed Piston Modules LLC, a joint venture of the two firms to assemble and sequence vehicle modules. The joint venture will occupy a 30,000 square foot area of Piston Automotive's Michigan Avenue facility.

The joint venture represents a $10 million facility expansion, including equipment and training, the companies said. The joint venture, a supplier to General Motors Corp., stated it will assemble brake corner modules for several GM luxury car lines and new product models. Piston Modules is actively pursuing business from other North American OEMs, the company added.

Piston Modules LLC will be 51 percent owned by Piston Automotive and 49 percent owned by Continental Teves N.A. The joint venture will initially create approximately 100 manufacturing jobs, more than doubling employment at the Michigan Avenue location within the next year, the company stated. Construction on the new Piston Modules facility is underway and is scheduled to be completed in the Fall.

Piston Modules has secured contracts totaling approximately $200 million, the company stated. "Establishing this joint venture underscores our commitment to providing our OEM customers with advanced brake corner module systems while supporting their stated minority sourcing goals," said William Kozyra, president of Continental Teves North America. "In Piston Automotive, we have the ideal partner for this effort. We look forward to growing our chassis systems business together."

"Piston Modules represents another significant milestone in the growth of Piston Automotive as we expand our presence in Detroit and the auto industry," said Vinnie Johnson, chairman and CEO of Piston Automotive.

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