Federal-Mogul reports strong 2010 results
March 1, 2011
Federal-Mogul Corporation, Southfield, Michigan, USA, has reported 2010 full year revenue of $6.2 billion, representing an increase of $889 million or 17% over 2009 figures. The company stated net income for 2010 was $161 million, a $206 million dollar improvement compared to full year 2009.
The company’s sales improved in all business segments and core markets for 2010 versus 2009. “The strong fourth quarter and full-year 2010 sales and financial performance demonstrate our ability to grow faster than the markets and convert incremental revenue into solid profitability,” said President and CEO Jose Maria Alapont. “The company continued to generate strong cash flow in 2010 which enabled Federal-Mogul to invest in sustainable global profitable growth initiatives to enhance our OE and aftermarket portfolio through internal development and acquisitions, while also funding pension obligations,” he explained.
Federal-Mogul Corporation is a global supplier of powertrain and safety technologies, serving original equipment manufacturers of automotive, light, medium and heavy-duty commercial, off-road, agricultural, marine, rail and industrial vehicles, as well as the worldwide aftermarket. Federal-Mogul uses Powder Metallurgy technology to manufacture a range of products including high-performance valve seats and guides for many of the world’s leading vehicle manufacturers. The company has dedicated PM technical centres in Coventry, UK, and Waupun, Wisconsin, USA.
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