Federal-Mogul Sells Non-Automotive Industrial and Magnetic Bearing Business

    SOUTHFIELD, Mich., Aug. 16 Federal-Mogul Corporation
today announced it has sold its industrial rotating plant bearing
and magnetic bearing business to Waukesha Bearings Corporation, a subsidiary
of New York-based Dover Corporation.  Terms of the transaction were not
disclosed.
    
    The sale includes an engineering and sales office and four manufacturing
plants that supply friction-reducing bearings to the gas, steam and hydraulic
turbine; compressor; pump; electrical motor and generator markets, as well as
for turbomachinery applications.  The business, known as Federal-Mogul RPB
Ltd., includes approximately 215 employees at plants in Glasgow, Scotland;
Manchester and Shoreham, England; and Mystic, Connecticut (United States); and
at a sales and engineering office in Middlesex, England.  Customers include
Alstom, Siemens-Westinghouse, General Electric, Reda Pumps and Demag-Deleval.

    Federal-Mogul acquired the rotating plant and magnetic bearing business
when it purchased T&N plc in 1998.  The business had 2000 net sales in excess
of $20 million.

    "We are pleased with this transaction, since it will allow these dedicated
employees the opportunity to develop the business as a core activity within
Dover Corporation and continue to provide customers with high-quality, leading
technology products," said Wilhelm A. Schmelzer, Federal-Mogul executive vice
president, Powertrain Systems.  "Federal-Mogul remains committed to
manufacturing and distributing engine bearings as a part of our core Power
Cylinder Systems business, which primarily serves customers in the automotive,
heavy-duty truck and small-engine markets."