Federal-Mogul Completes Three Divestitures of Non-Core Operations

FEDERAL-MOGUL LOGO
Federal-Mogul Corporation Logo. (PRNewsFoto)[KI]
SOUTHFIELD, MI USA 05/25/2000
    SOUTHFIELD, Mich., Sept. 6 Federal-Mogul Corporation
today reported the completion of three recent divestitures of
non-core operations with facilities in the United States, Europe and Japan.
In total, the divested operations accounted for approximately $35 million in
annual sales.  Terms were not disclosed.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO )
    "These divestitures are part of an ongoing effort to sharpen our focus on
growing our core automotive aftermarket and original equipment businesses,"
said Chip McClure, president and chief operating officer of Federal-Mogul,
which had sales of $6 billion in 2000.
    The divestitures included:
    Blazer Lighting Products - Aftermarket - Federal-Mogul sold the
aftermarket operations of Blazer Lighting Products to Clean-Rite Products LLC,
an automotive aftermarket supplier based in Buffalo Grove, Illinois.  Blazer's
aftermarket lighting sales were approximately $22 million in 2000.  Blazer's
exterior vehicle lighting product lines, which consist primarily of fog and
projector lamps, accounted for nearly 90 percent of its annual sales.  Blazer
also distributes interior lighting products, replacement bulbs and non-
lighting accessories, such as horns.
    No Federal-Mogul manufacturing operations were divested as part of this
transaction, as the Blazer line is primarily sourced from other manufacturers.
Federal-Mogul will continue its manufacturing and sales support of Blazer
Lighting Products for original equipment (OE) customers.  Federal-Mogul also
will continue to manufacture and provide lighting products to OE and
aftermarket customers under the Wagner(R), Signal-Stat(R) and Rossi(R) brand
names, and to OE customers under the Zanxx(R) brand.
    Pontotoc, Mississippi - Federal-Mogul completed the sale of its Pontotoc,
Mississippi, operation to Union Spring and Manufacturing Corp., based in
Pittsburgh, Pennsylvania.  The leased plant and manufacturing operation, which
has about 70 employees, will continue to supply coil springs and metal
stampings to Federal-Mogul for sale to automotive aftermarket customers under
a long-term supply agreement.
    Large and Industrial Bearings - Federal-Mogul restructured its equity
positions in several large and industrial bearing manufacturing joint ventures
with its partner, Daido Metal Company Ltd. of Japan.  The restructuring
transactions included the transfer of controlling interest in manufacturing
facilities in Ilminster, United Kingdom, and Nagoya, Japan.  The facilities
have about 150 employees and contributed approximately $13 million toward
Federal-Mogul's consolidated sales in 2000.
    Headquartered in Southfield, Michigan, Federal-Mogul is an automotive
parts manufacturer providing innovative solutions and systems to global
customers in the automotive, small engine, heavy-duty and industrial markets.
The company was founded in 1899.  Visit the company's web site at
http://www.federal-mogul.com for more information.

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