SOUTHFIELD, Mich., April 17 /PRNewswire-FirstCall/ --
Federal-Mogul Corporation (OTC Bulletin Board: FDMLQ) has completed the sale
of certain original equipment lighting assembly operations to Decoma
International Inc., based in Concord, Ontario, Canada.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO )
The sale was completed April 14, following approval by the U.S. Bankruptcy
Court on April 2. Federal-Mogul will realize approximately US$19 million,
including the value of inventory sold to Decoma International and assets
retained by Federal-Mogul.
Decoma International acquired Federal-Mogul's original equipment lighting
manufacturing facility in Matamoros, Mexico; a distribution center in
Brownsville, Texas; and an assembly operation in Toledo, Ohio. As part of the
transaction, Decoma International will also acquire customer contracts and
supporting manufacturing equipment at the Federal-Mogul lighting facility in
Hampton, Virginia, which will transition to Decoma International over the next
several months. The facilities produce mainly forward lighting modules for
cars and trucks.
Federal-Mogul is a global supplier of automotive components and sub-
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
47,000 people in 24 countries. 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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Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
Related links:
http://www.federal-mogul.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/306225.html
CONTACT:
Kimberly Welch, +1-248-354-1916, or Jim
Fisher, +1-248-354-9809, both of Federal-Mogul Corporation
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