Federal-Mogul Signs Agreement to Sell OE Molded Lighting Assembly Operations to Decoma International
SOUTHFIELD, Mich., March 12 /PRNewswire-FirstCall/ -- Federal-Mogul Corporation (OTC Bulletin Board: FDMLQ) and Decoma International Inc. (Nasdaq: DECA; TSE: DEC.A) have signed an agreement under which Federal-Mogul would sell its original equipment (OE) molded lighting assembly operations to Decoma International, based in Concord, Ontario, Canada. The agreement is subject to approval by the U.S. Bankruptcy Court in Wilmington, Delaware, and other conditions. (Photo: http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO ) Federal-Mogul in August 2002 announced plans to explore the sale of certain OE lighting operations to Decoma International. Under the sale agreement, Decoma International would acquire Federal- Mogul's OE lighting manufacturing facility in Matamoros, Mexico; a distribution center in Brownsville, Texas; and an assembly operation in Toledo, Ohio. Decoma International would also acquire the customer contracts and supporting manufacturing equipment at Federal-Mogul's lighting facility in Hampton, Virginia. The OE lighting plants to be acquired from Federal-Mogul by Decoma International have more than 400 employees and produce primarily forward lighting modules for cars and trucks. Federal-Mogul will continue to maintain its lighting manufacturing operations in Boyertown, Pennsylvania, and Sparta, Tennessee, which produce bulbs, sealed beam and light source products to Tier 1 suppliers who in turn sell them to vehicle manufacturers. Federal-Mogul also will maintain its Wagner(R) Lighting products manufactured in Boyertown and Sparta, and its Zanxx(R) lamp socket business in Avilla, Indiana. Federal-Mogul is a global supplier of automotive components and sub- systems serving the world's original equipment manufacturers and the aftermarket. The company utilizes its engineering and materials expertise, proprietary technology, manufacturing skill, distribution flexibility and marketing power to deliver products, brands and services of value to its customers. Federal-Mogul is focused on the globalization of its teams, products and processes to bring greater opportunities for its customers and employees, and value to its constituents. Headquartered in Southfield, Michigan, Federal-Mogul was founded in Detroit in 1899 and today employs 47,000 people in 24 countries. For more information on Federal-Mogul, visit the company's web site at http://www.federal-mogul.com .RELATED LINKS
SOURCE Federal-Mogul Corporation
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