SOUTHFIELD, Mich., March 5 /PRNewswire-FirstCall/ -- Federal-Mogul
Corporation (OTC Bulletin Board: FDMLQ) announced today that it has jointly
filed with the Unsecured Creditors Committee, the Asbestos Claimants
Committee, the Future Asbestos Claimants Representative, the Agent for the
Prepetition Bank Lenders and the Equity Committee a Disclosure Statement and
an Amended Plan of Reorganization with the U.S. Bankruptcy Court in Delaware.
This Amended Joint Plan of Reorganization has the support of High River
Limited Partnership, an entity that is affiliated with Carl Icahn.
A hearing to consider approval of the Disclosure Statement has been
scheduled for April 13 and 14, 2004. Upon its approval by the Court, the
Disclosure Statement, along with the Amended Joint Plan of Reorganization,
will be mailed to all creditors and stockholders in order to solicit their
votes to accept the Plan.
About Federal-Mogul
Federal-Mogul is a global supplier of automotive components, sub-systems,
modules and systems serving the world's original equipment manufacturers and
the aftermarket. The company utilizes its engineering and materials
expertise, proprietary technology, manufacturing skill, distribution
flexibility and marketing power to deliver products, brands and services of
value to its customers. Federal-Mogul is focused on the globalization of its
teams, products and processes to bring greater opportunities for its customers
and employees, and value to its constituents.
Headquartered in Southfield, Michigan, Federal-Mogul was founded in
Detroit in 1899 and today employs more than 45,000 people in 24 countries. On
October 1, 2001, Federal-Mogul decided to separate its asbestos liabilities
from its true operating potential by voluntarily filing for financial
restructuring under Chapter 11 of the Bankruptcy Code in the United States and
Administration in the United Kingdom. For more information on Federal-Mogul,
visit the company's Web site at http://www.federal-mogul.com .
SOURCE Federal-Mogul Corporation
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Related links:
http://www.federal-mogul.com
Company News On-Call:
http://www.prnewswire.com/comp/306225.html
CONTACT:
Marie Remboulis, +1-248-354-9809 (Media), or
Janet Halpin, +1-248-354-8847 (Investors), both of Federal-Mogul
Corporation
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