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Federal Mogul Corporation Headquartered in Southfield, Michigan, Federal-Mogul is an automotive parts manufacturer providing innovative solutions and systems to global customers in the automotive, light trucks, heavy duty, farm and industrial markets. The company was founded in 1899.
Federal-Mogul Reports Fourth Quarter Results SOUTHFIELD, Mich., Feb. 1 /PRNewswire/ -- Federal-Mogul Corporation (NYSE: FMO) today announced fourth quarter sales of $1,348 million compared to $1,574 million in 1999. In line with the company's announcement on January 22, Federal-Mogul reported a fourth quarter loss of $(.99) per share from operations versus earnings of $.87 per share from operations in 1999. Excluded from earnings from operations were charges for restructuring and impairment, a tax valuation allowance adjustment and an asbestos liability adjustment in 2000 and integration costs in 1999. Including these items, Federal-Mogul reported a fourth quarter 2000 loss of $(4.80) per share compared to net earnings of $.79 in 1999. Cash flow from operations which includes capital expenditures, restructuring, and asbestos payments was a usage of $160 million. For 2000, Federal-Mogul had sales of $6,013 million, compared to $6,488 million in 1999. Federal-Mogul reported earnings per share from operations for the year of $.53 per share versus $4.04 per share in 1999. Federal-Mogul Announces Record 1999 Results Federal-Mogul Corporation announced 1999 financial results with record earnings from operations of $4.08 per share, a 52 percent increase from the $2.69 per share in 1998. Earnings per share from operations exclude integration costs and extraordinary and other non-recurring items. Including these items, Federal-Mogul earned $3.20 per share compared to $.96 in 1998. (Feb. 2, 2000)
Federal-Mogul Announces Planned Acquisition of Sabo Industria e Comercio Ltda. Southfield, Mich. - August 10, 1999 - Federal-Mogul Corporation announced today that it has signed a letter of intent to acquire Sabo Industria e Comercio Ltda., a family owned business headquartered in Sao Paulo, Brazil, and a leader in gaskets, seals and hoses in South America. Sabo's wholly owned European subsidiary, KACO GmbH + Co., a leader in seals in Europe, will also be included in the acquisition. Federal-Mogul Reports Record Second Quarter Sales, Earnings, Cash Flow and EVA Southfield, Mich., July 22, 1999 - Federal-Mogul Corporation today announced record second quarter sales, earnings, cash and EVA, posting solid financial results for the tenth consecutive quarter. Federal-Mogul announced an additional $70 million in net new business awards covering the 1999 to 2003 timeframe for both original equipment and aftermarket customers. Federal-Mogul Announces the Organizational Structure for the Visibility Group SOUTHFIELD, Mich., July 2, 1999 - Frank Tomes, executive vice president, General Products, Federal-Mogul Corporation (NYSE: FMO), announces the organizational structure for the Visibility Group, effective immediately. Federal-Mogul Announces Automotive Cylinder Liner Joint Venture Southfield, Mich., June 14, 1999 - Federal-Mogul Corporation (NYSE: FMO) and Teikoku Piston Ring Co., Ltd. today announced an agreement to establish a joint venture for the manufacture of automotive cylinder liners. The joint venture company will be called Federal-Mogul TP Liners, Inc., and will manufacture at Federal-Mogul's current Lake City, Minnesota, manufacturing facility. Federal-Mogul TP Liners, Inc., plans to invest over $10 million in the operations over the next two years. Federal-Moguls New European Structure Strengthens Customer Focus SOUTHFIELD, Mich. June 4, 1999 - Gordon A. Ulsh, president and chief operating officer, Federal-Mogul Corporation (NYSE: FMO), announces a new operating structure for Europe appointing Wilhelm A. Schmelzer, 58, executive vice president, Europe, effective immediately. Schmelzer will be responsible for all manufacturing and distribution operations, and all sales and marketing activities in Europe and Africa for both original equipment and aftermarket customer channels. Federal-Mogul Completes Sale of South African Heat Transfer Business Southfield, Mich., 21 April 1999 - Federal-Mogul Corporation's (NYSE: FMO) Chairman and Chief Executive Officer Dick Snell announced today the sale of the company's South African heat transfer business to Behr GMBH & Co., DM 3 billion German manufacturer of engine cooling systems and air conditioning products headquartered in Stuttgart, Germany
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