Federal-Mogul Reports Solid Sales Despite Global Economic Downturn
Federal-Mogul has reported solid year-over-year results with third quartersales of $1,692 million, gross margin of $279 million, pre-tax earnings of $22million and net income of $4 million. Cash flow in the third quarter 2008improved to $25 million versus a negative cash flow of $(114) million in thesame period of 2007. Thecompany said these sales and
Federal-Mogul Announces Restructuring Plan; Eight Percent of Workforce to be Cut
Federal-Mogul hasannounced a restructuring plan designed to improve operatingperformance and respond to increasingly challenging conditions in theglobal automotive market. The plan, when combined with other workforce adjustments, isexpected to reduce the company’s global workforce by approximately4,000 positions or eight percent. The planned actions, which will takeplace as a result of several streamlining initiatives, will includeconsolidation
Federal-Mogul to Build New Manufacturing Facility in India
Federal-Mogul is planning tobuild a new facility in Chennai, India, for the manufacture of frictioncomponents for original equipment (OE) and aftermarket segments. Thefacility is scheduled to begin production of light vehicle brake andfriction components, commercial vehicle and railway friction productsby September 2009. Federal-Mogul currently manufactures products at six facilities inIndia, including pistons, rings, liners, bearings,
Federal-Mogul Begins Producing Powertrain Components at New ‘Greenfield’ Facility in Brazil
Federal-Mogul recently beganproducing the first pistons from a state-of-the-art manufacturing lineat its new Powertrain Energy business segment facility in Araras,Brazil. The 10,300-square-meter "Greenfield" facility produces pistons,camshafts and valve seats and guides for several leading vehiclemanufacturers. The new Araras facility shipped the first pistons to customers, four weeks ahead of the planned shipment date. "We are
Federal-Mogul Corporation Recognized by General Motors as a 2007 Supplier of the Year
Federal-Mogul Corporation received the General Motors 2007 Supplier of the Year Award for its significant contributions to GM’s global product and performance achievements. The Company’s leading piston and connecting rod technology was highlighted by General Motors. The 16th annual award – themed the "Best of the Best" – was given during ceremonies Saturday, April 26
Federal-Mogul Lists Class A Common Stock on NASDAQ
Federal-Mogul Corp. Class A Common Stock is now listed on the NASDAQ Global Market and began trading today under the ticker symbol “FDML.” President and Chief Executive Officer Jose Maria Alapont and a representative group of employees commemorated the listing at the NASDAQ MarketSite bell ringing ceremony in New York at the market opening. “Listing Federal-Mogul’s
Federal-Mogul Reports Record First Quarter Sales
Federal-Mogul has reportedits first quarter 2008 financial results, including record quarterlysales of $1.86 billion, an increase of 8 percent over the same periodof the prior year. During the first quarter, the company recorded a one-time, non-cashcharge of $68 million relating to re-valuation of inventory, asrequired by fresh-start reporting following emergence from Chapter 11in December 2007.
Federal-Mogul Corporation Drives the Future Through Leading Technology at Auto Beijing 2008
Federal-Mogul Corporation is pleased to bring its innovative products, brands and technologies to Auto Beijing 2008. This marks the first time Federal-Mogul will exhibit at Beijing’s International Automotive and Manufacturing Technology Exhibit, one of the world’s most exciting international automotive events. As a world-class automotive supplier serving the foremost original equipment manufacturers and the aftermarket
Federal-Mogul to List Class A Common Stock on NASDAQ
Federal-Mogul Corp.’s ClassA Common Stock will be listed on the NASDAQ Global Market beginning onApril 23. Federal-Mogul will trade under the ticker symbol “FDML.” President and Chief Executive Officer Jose Maria Alapont and arepresentative group of employees are slated to commemorate the listingat the NASDAQ MarketSite in New York at the market opening on April
Federal-Mogul Announces Organizational Appointments
Federal-Mogul has announcedsenior leadership changes within its finance, global purchasing,corporate communications and investor relations staffs. Jeff Kaminski has been appointed senior vice president and chieffinancial officer. He will continue to serve as a corporate officer andmember of the Federal-Mogul Strategy Board (FMSB). Markus Wermers has been appointed senior vice president, globalpurchasing. He will also serve
Federal-Mogul Reports Full Year 2007 Results
Federal-Mogul has reported its financial results for the twelve-month period ended Dec. 31, 2007. The company recently emerged from reorganization under Chapter 11 of the United States Bankruptcy Code and adopted fresh-start reporting in connection with its emergence. Federal-Mogul reported net sales of $6,914 million for the year ended Dec. 31, 2007. Net sales increased
Federal-Mogul
Federal-Mogul Corporation’s Fel-Pro® PermaTorqueMLS® multi-layer-steel performance head gaskets sealed the engines for nine of the top 10 finishers – including race-winner Ryan Newman of Penske Racing – at the 2008 Daytona 500. The winners of dozens of NASCAR Cup, Nationwide and Craftsman Truck series races, Fel-Pro PermaTorqueMLS head gaskets are available for an extensive range
Icahn Emerges with 75 percent of Federal-Mogul
Carl Icahn, billionaire investor and chairman of Federal-Mogul Corp., has bought half of F-M’s stock, giving him control of 75 percent of the company’s shares, according to recent reports. Icahn used his option to buy 50.1 million shares of the company for $900 million, according to a recent filing with the Securities and Exchange Commission.
Carl Icahn to be Non-Executive Chairman of Federal-Mogul
Federal-Mogul Corporation annou-nced recently that its Board of Directors has elected Carl Icahn as its non-executive Chairman of the Board.
Alapont To Remain As Federal-Mogul CEO Following Bankruptcy
Federal-Mogul Corp. CEO Josè Maria Alapont says he will remain with the supplier for the long term after its exit from more than six years of bankruptcy protection on Dec. 27. Alapont has been CEO of the company since March 2005. It filed for bankruptcy protection amid a number of asbestos lawsuits in October 2001.
Federal-Mogul Reorganization Plan Affirmed, Company to Emerge from Chapter 11
Federal-Mogul Corporation received confirmation of its Fourth Amended Joint Plan of Reorganization on Nov. 8 by the U.S. Bankruptcy Court, which will allow the company’s emergence from Chapter 11 before year end. Federal-Mogul voluntarily filed in 2001 for Chapter 11 bankruptcy protection in the United States and Administration in the United Kingdom in order to
Brent Berman Appointed Vice President of Sales and Marketing of Specialty Products Company
Brent Berman has been appointed vice president of sales and marketing of Specialty Products company, a Longmont, Colorado-based manufacturer of vehicle alignment tools, suspension components and oil/fuel system products. Berman, who joins Specialty from First Brands Group, will oversee sales, marketing and other key functions across Specialty Products Company, SPC Performance and Peterson Fluid Systems.
Brian Tarnacki Joins Pinnacle Media
Brian Tarnacki, a widely respected expert in building strong brands at every level of the auto care and commercial vehicle industries, has joined Pinnacle Media, a full-service marketing communications agency with clients in the global transportation, manufacturing, software and professional services markets. Tarnacki, vice president of brand development for Pinnacle, has more than 30 years of
Premium Guard Inc. Acquires Aftermarket Filters Business from Tenneco
Premium Guard Inc. (PGI), a leader in automotive aftermarket filters, has purchased Tenneco’s global aftermarket filters business in Mexico. The announcement was made by Anan Bishara, CEO and President of PGI, who noted that the acquisition, which was finalized on October 31, 2020, includes Tenneco’s manufacturing facility in Tultitlan, Mexico, operations, the Interfil and Engine
GM 604 Crate Engine
These GM 604 and 602 crate engines have found favor with some racers, and just as with any engine, they do wear out and break. There is a need for shops that can rebuild these engines.
