Federal-Mogul Announces Divestiture of Oil Conditioning System Business
5 July 2000
Federal-Mogul Announces Divestiture of Oil Conditioning System BusinessSOUTHFIELD, Mich. - Federal-Mogul Corporation today announced it has completed a divestiture of its Oil Conditioning System business, to Filterwerk Mann + Hummel GmbH. The Oil Conditioning System (OCS) business located in Ilminster, Somerset, England, manufactures bypass oil cleaning centrifuges for the original equipment heavy duty and medium speed diesel engine markets. The business has annual sales of approximately $15 million and 73 employees. OCS was acquired through Federal-Mogul's acquisition of T&N in 1998. "We are pleased with the divestiture of this non-core operation, as OCS fits strategically with Mann + Hummel," said Dick Snell, chairman and chief executive officer, Federal-Mogul Corporation. "We wish the dedicated, innovative employees well as members of Mann + Hummel." Terms of the sale were not disclosed. 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.