Federal Mogul escapes Chapter 11...Federal Mogul escapes Chapter 11
As predicted by Metal Powder Report in August, Federal-Mogul Corporation, based in Southfield, Michigan, emerged from Chapter 11 bankruptcy in the closing days of 2007.
The company makes a wide variety of automotive products as well as PM parts and products in plants in the US, the UK, France, and India.
“We are delighted to have reached this significant milestone in Federal-Mogul’s 108-year history of serving the automotive industry,” said José Maria Alapont, chairman, president, and CEO. The company operated under bankruptcy protection in the US and the UK since 2001. It has 45,000 employees in 35 countries, and posted sales of $5.1 billion for the first nine months of 2007.
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