Federal-Mogul Terminates Motorparts Division Spin-Off
Federal-Mogul Holdings Corp. has terminated the spin-off of its Motorparts division. The company will continue to operate in two independent segments with separate CEOs who will each report directly to the board of directors.
The company says the separate divisions more effectively serve their unique markets and allow each operating segment to more quickly react to its respective market conditions.
In September 2014, Federal-Mogul announced plans to separate its Powertrain and Motorparts divisions into two independent, publicly-traded companies serving the global original equipment and aftermarket industries.
Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, chassis, wipers and other vehicle components. The company's aftermarket brands include Anco wiper blades; Champion spark plugs, wipers and filters; AE, Fel-Pro, FP Diesel, Goetze, Glyco, Nüral, Payen and Sealed Power engine products; Moog steering and suspension parts; and Ferodo, Jurid and Wagner brake products.
Federal-Mogul’s global headquarters is in Southfield, Mich. The company employs nearly 50,000 people in 34 countries. For more information, visit www.federalmogul.com.