Federal-Mogul Divests Minority Interest in G. Bruss GmbH & Co. KG
10 February 1998
Federal-Mogul Divests Minority Interest in G. Bruss GmbH & Co. KGSOUTHFIELD, Mich., Feb. 10 -- Federal-Mogul Corporation today announced the divestiture of its minority interest in G. Bruss GmbH & Co. KG, a German manufacturer of seals and gaskets. "This action allows us to pursue our strategy for growth in Europe," said Federal-Mogul Chairman and Chief Executive Officer Dick Snell. "We will continue to service our customers fully during this transition." As part of the divestiture agreement, Federal-Mogul increased its ownership to 100% in the Summerton, South Carolina gasket business and received an undisclosed amount of cash. Headquartered in Southfield, Michigan, Federal-Mogul is a global manufacturer of a broad range of non-discretionary parts primarily for automobiles, light trucks, heavy trucks, and farm and construction vehicles. The company was founded in 1899. Visit the company's web site at http://www.federal-mogul.com for more information. SOURCE Federal-Mogul Corporation