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Federal-Mogul Announces Acquisition of Engine Bearing Manufacturer Bimet

12 March 1998

Federal-Mogul Announces Acquisition of Engine Bearing Manufacturer Bimet

    SOUTHFIELD, Mich., March 11, 1998 -- Federal-Mogul Corporation
has expanded its engine bearing operations in Europe with the acquisition of
Bimet S.A.  The acquired company, located in Gdansk, Poland is a manufacturer
of engine bearings, bushings and related products.
    "The expansion into Poland provides us the production flexibility
necessary to serve our customers efficiently," said Alan Johnson, executive
vice president, Powertrain Systems.  "We are driven to be a competitive player
in the global powertrain products market and the addition of the Gdansk team
provides us with a low cost, high quality production environment."
    Bimet was privatized in 1994 and has approximately 600 employees.  The
company had sales in 1997 of approximately $12 million.  Federal-Mogul
purchased approximately 95% of the common stock of Bimet S.A.  Terms of the
sale were not disclosed.
    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