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Federal-Mogul in venture

DETROIT - Federal-Mogul Corp. of Southfield, Mich., and Teikoku Piston Ring Co. Ltd. of Tokyo formed a 50-50 joint venture called United Piston Rings Inc., which will make steel piston rings.

United Piston Rings will produce the rings at Federal-Mogul's Manitowoc, Wis., plant. Federal-Mogul and Teikoku over the next year will invest about $10 million in the joint venture.

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