The invention relates to a friction ring, in particular for wet-running clutches or transmissions, having a carrier (10) and a friction lining (12) with a friction lining starting material (20) being a mixture at least of a thermosetting binder and a filler, and with the friction lining starting material (20) having a non-flowable, pasty processing consistency and the friction lining (12) having a solid final consistency after processing on the carrier (10). The invention further relates to a method producing such a friction ring.