Federal-Mogul Corporation has announced that the company has begun operating with two business segments, each with a Chief Executive Officer reporting to Federal-Mogul’s Board of Directors. Federal-Mogul’s powertrain segment focuses on original equipment products for automotive, heavy duty and industrial applications. The vehicle components segment sells and distributes a broad portfolio of products in the global vehicle aftermarket, while also serving original equipment manufacturers.
“Today’s announcement is the fulfilment of the direction established by the Company’s Board of Directors in March 2012, to focus the business on the unique needs of customers who buy original equipment powertrain products, or aftermarket and vehicle components,” stated Rainer Jueckstock, co-CEO, Federal-Mogul and CEO F-M Powertrain Segment. “The two operating segments will continue to be divisions of Federal-Mogul Corporation and continue to use the FDML stock symbol.”
Listed below are Federal-Mogul Corporation’s two new business segments, with the full year 2011 sales information reflecting the sales in the respective segments as if they had been segmented in this manner at that time.
Full Year 2011 Sales: $4.2 billion (with intercompany sales)
Manufacturing Plants: 79
Engineering Centres: 12
Main Product Lines: Pistons, piston rings, cylinder liners, valve seats, valve guides, bearings, spark plugs, bushings, static gaskets and dynamic seals, heat shields, systems protection products
Federal-Mogul Vehicle Component Solutions
Full Year 2011 Sales: $3.1 billion
Manufacturing Plants: 31
Engineering Centres: 8
Distribution Centres: 20
Main Product Lines: Engine and sealing components, brake friction, wipers, steering and suspension, fluids and chemicals
Federal-Mogul uses Power Metallurgy and other manufacturing technologies to produce a wide range of components for the automotive sector. The company employs some 45,000 people in 34 countries, and has its worldwide headquarters is in Southfield, Michigan, United States.
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]