/ Industry, News / Federal-Mogul splits in two distinct companies

Federal-Mogul splits in two distinct companies

Linked In Share
Federal-Mogul splits in two distinct companies

The auto parts supplier Federal-Mogul announced it will split into two companies, one to make and sell replacement parts and the other to produce powertrain and engine parts for new cars.

Federal-Mogul Motorparts will sell brands like Champion Spark Plugs and Anco wipers while looking to aquire other brands. Meanwhile, Federal-Mogul Powertrain will design and make components for carmakers that improve fuel economy, reduce emissions and enhance performance.

Daniel Ninivaggi, leader for the Federal-Mogul Motorparts said that “The real strategy is to really globalize the company and build a world-class aftermarket supplier. We have made two acquisitions in the last six months. We want to do more.”

The company, controlled by activist investor Carl Icahn, is expecting the transaction to be completed in the first six months of 2015.

Icahn said in a statement that “By separating the powertrain and motorparts divisions of Federal-Mogul, we are creating two independent, market-leading companies. Upon separation both businesses will be well-capitalized and poised for stand-alone success.”

Shares of Federal-Mogul rose this week 2.26% to $17.65, which is however a decrease from a 52-week high of $22.97 on January 8. Federal-Mogul emerged from bankruptcy in December 2007 and has now annual sales of about $6.8 billion. The company has been working as a holding company with two separate divisions since 2012 and renamed its components division Federal-Mogul Motorparts in April.

By Gabriela Florea

by Aurel Niculescu (my Google+) - Thursday, September 4th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles
Companies federal mogul split two


Discuss: Federal-Mogul splits in two distinct companies

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

MINI celebrates two milestones
MINI celebrates two milestonesMINI reached a new milestone thirteen years after its re-launch in 2001, as the three-millionth MINI left the assembly line at ...
Vauxhall announces and teases Viva model prior to next year’s Geneva Motor Show debut
Vauxhall announces and teases Viva model prior to next year’s Geneva Motor Show debutThe British counterpart of Opel has released the first teaser image of the newly announced Viva entry-level five-door city ...
Santander chief Botin dies
Santander chief Botin diesSep.10 (GMM/Inautonews.com) Emilio Botin, a man well-known within the F1 paddock, has died. The 79-year-old was chief of ...
Renault to build Bollore’s 3-seater “Autolib” electric car
Renault to build Bollore’s 3-seater “Autolib” electric carRenault will build a small version of the electric vehicle under the “Autolib” self-service, with the concept of ...
European supercar sales seen rising over 60% by 2017
European supercar sales seen rising over 60% by 2017The European market downturn for supercars priced over €100,000 seems to be ending after the region exited the prolonged ...
[Videos] Nissan officially introduces the Project Titan
[Videos] Nissan officially introduces the Project TitanThe Japanese automaker has unveiled the finished Project Titan – a truck designed for a very interesting Alaskan adventure ...
Daimler ready to extend cooperation with Aston Martin
Daimler ready to extend cooperation with Aston MartinDaimler is “fundamentally open” to discussions on a more profound cooperation with Aston Martin’s new CEO, according to ...
Delphi’s CEO to retire in March
Delphi’s CEO to retire in MarchDelphi Automotive Plc announced that Rodney O’Neal, the US auto parts maker’s CEO will retire next March, and will be ...
Toyota unveils the Urban Utility (U2) concept
Toyota unveils the Urban Utility (U2) conceptThe Japanese automaker, the largest carmaker in the world, has just revealed the first images and details of the Urban Utility ...
[Video] Scion introduces the FR-S Release Series 1.0
[Video] Scion introduces the FR-S Release Series 1.0The limited special edition officially unveiled by the Japanese automaker is available on order in the United States starting ...
Michael Schumacher finally comes home
Michael Schumacher finally comes homeThe past nine months have been grueling for Schumacher’s fans around the world and especially hard on the family and close ...
Ermenegildo Zegna celebrates Maserati with 100th Anniversary Collection
Ermenegildo Zegna celebrates Maserati with 100th Anniversary CollectionThe Italian luxury brand is celebrating in 2014 no less than a century of existence, and as a part of its numerous ...
Breaking news: Luca di Montezemolo quits Ferrari Chairman position
Breaking news: Luca di Montezemolo quits Ferrari Chairman positionFollowing recent rumors and the reports about the clashes with Fiat Chrysler Automobiles CEO Sergio Marchionne, the long-running ...
Recognize the fiery supercar? Lamborghini Huracan burnt after Hungary crash
Recognize the fiery supercar? Lamborghini Huracan burnt after Hungary crashThis is the first registered crash of a Lamborghini Huracan after it entered series production. It’s also the first fiery ...
The Koenigsegg Agera R test car crashes on the Nurburgring
The Koenigsegg Agera R test car crashes on the NurburgringThe very mysterious Koenigsegg Agera R development car has suffered an accident while being test driven on the highly technical ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Project Titan
toyota-urban-utility-concept-001-1
Scion-FR-S-Release-Series-10-0
maserati-and-ermenegildo-zegna1
Spy-Shots of Cars
Spy-Shots of Cars
2015 BMW 2 Series Convertible 228i 01
Opel-Insignia-auto
Mercedes-AMG GT (C 190) 2014
city-car-ev-china-2
Mercedes_S500_plugin
2015 Lincoln Navigator

More automotive from inautonews
MINI reached a new milestone thirteen years after its re-launch in 2001, as the three-millionth MINI left the assembly line at the Oxford plant in the UK. The celebratory car is a MINI 5 Door with the U.K.’s Union Jack design. Since 2001, two million MINIs have been exported from the UK to more ...
read more
Inautonews Editors Section
Can Ricciardo do a Prost ’86?
Can Ricciardo do a Prost ’86?For the third time this season, Mercedes faltered in their 1988-esque campaign and there’s only one man ready to pounce whenever opportunities ...
Test Drive – Mercedes-Benz E250 CDI 4Matic
Test Drive – Mercedes-Benz E250 CDI 4MaticDaimler’s passenger cars division – which consists of the Mercedes-Benz and Smart brands – has vowed to recover the distance from its German ...
Top 10 Ferrari F1 drivers No.2 Alberto Ascari
Top 10 Ferrari F1 drivers No.2 Alberto AscariLike his father he was so fast, sometimes perhaps too fast. In pure natural speed and car control no driver could hold a candle to Alberto Ascari in ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety US: Senate hearing mulls vehicle safety law changes in GM crisis aftermathGeneral Motors executives, headed by CEO Mary Barra, have already been through Senate subcommittee ... General Motors’ China JV recalls 38,328 CadillacsShanghai General Motors Co, GM’s main Chinese joint venture is recalling 38,328 Cadillac sedans ...
Safety Section