Federal-Mogul Signs Letter of Intent to Explore Divestiture Of OE Lighting Operations

SOUTHFIELD, Mich., Aug. 9 Federal-Mogul Corporation has filed a letter of intent with the U.S. Bankruptcy Court in Wilmington, Delaware, to explore the possible sale of its original equipment (OE) lighting operations to Decoma International Inc., based in Toronto, Canada.

The two companies will explore the potential sale to Decoma of Federal- Mogul's OE lighting business with manufacturing facilities in Hampton, Virginia, and Matamoros, Mexico; a distribution center in Brownsville, Texas; and an assembly operation in Toledo, Ohio. The letter of intent contains a number of conditions that must be satisfied before a transaction can be completed. Federal-Mogul's OE lighting business has approximately 800 employees and produces primarily forward lighting modules.