Federal-Mogul
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Parent Tenneco | | |
Website | www.federalmogul.com |
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Federal-Mogul Corporation is an American developer, manufacturer, and supplier of products for automotive, commercial, aerospace, marine, rail, and off-road vehicles, as well as industrial, agricultural, and power-generation applications. It was acquired in February 2022 by Apollo Global Management.[3]
Federal-Mogul operated two independent business divisions, Federal-Mogul Powertrain and Federal-Mogul Motor-Parts. The two divisions each had their own chief executive officer.
History
Origins
Federal-Mogul was founded in 1899 in Detroit by J. Howard Muzzy and Edward F. Lyon as the Muzzy-Lyon Company.
The Muzzy-Lyon Company's bearings business proved successful in the early 1900s and became the pair's main concern, with Buick as one of their earliest customers.[4] In 1924, the Muzzy-Lyon Company and Federal Bearings and Bushing, an engine bearings and bushings manufacturing company founded in 1915 by a group of Detroit businessmen,[7] merged to become the Federal-Mogul Corporation.[8] The combined company also manufactured bronze bearings, a product the Muzzy-Lyon Company had not supplied previously.
Federal Mogul established a research division in 1929, with the help of Battelle Memorial Institute.[8] In 1931, during the Great Depression, Federal-Mogul started its Equi-Poise propeller division.[8]
In 1932, the company developed a new alloy called C-100, one of the first new bearing materials since the discovery of Babbitt metal.[8] The Federal-Mogul research team revamped the C-100 in 1934 to create a C-50 alloy.[8]
Post-WWII expansion
In 1955, the company acquired National Motor Bearing Company, and the company name was changed to Federal-Mogul Bower.[9]
In the late 1950s, the company opened business operations in Switzerland,[8] and in 1962, the company established an overseas service center in Antwerp, Belgium.[10] In 1963, Federal-Mogul Bower's Arrowhead division manufactured components for NASA's Saturn launch vehicle.[10]
In April 1965, Federal-Mogul Bower merged with Sterling Aluminum Products. The combined company was renamed the Federal-Mogul Corporation.[9][11]
In 1966, Federal-Mogul Corporation relocated its corporate headquarters from downtown Detroit to Southfield, Michigan.[10]
In 1981, Federal-Mogul Arrowhead parts were implemented in the NASA Space Shuttle launch.[10]
In 1981, the company attempted to patent a process for curing rubber based on the mathematical equation written by Swedish chemist Svante Arrhenius in 1889. The US Patent Office rejected Federal-Mogul's claim, on the basis that neither a formula, as a law of nature, nor a computer program based on such a formula, could be patented.[12] That same year, the company won a claim in the Supreme Court to the patent.[citation needed]
Bankruptcy to the present
In 1998, the company acquired the Automotive Products division of
During the company's restructuring, Federal-Mogul Corporation acquired multiple companies including Robert G. Evans Co., Hanauer Machine Works, Inc.metalic Inc., Mather Co. and Fel-Pro, Inc.[17] The company emerged from Chapter 11 reorganization in January 2008, and in April 2008, the company listed Class A common stock on NASDAQ under the trading symbol FDML.[17]
In June 2010, Federal-Mogul expanded further into Asia by opening a headquarters and technical center in Shanghai, China.[18] The Asia Pacific headquarters and technical center facility contains powertrain dynamometers and vehicle braking test cells among other processes.[18] The location allows for increased technical support to powertrain and vehicle customers as well as technology development.[18]
Federal-Mogul acquired Daros Group in June 2010, a privately owned supplier of pistons for large bore engines used in industrial energy generation and commercial shipping.[19] The acquisition of the group included operations in China, Sweden and Germany.[19] The purchase of draco added two-stroke and four-stroke piston ring products to Federal-Mogul's portfolio of industrial piston rings.[19]
In December 2010 the company's Barcelona warehouse was shut down and moved to Madrid.
In March 2012, Federal-Mogul's board of directors modified the company's corporate structure to create separate Powertrain and Vehicle Components segments, each with its own CEO.[20] Rainer juckstock former senior vice president of the company's Powertrain Energy business, was named CEO for the Powertrain segment effective April 1, 2012.[20] In February 2014, Daniel A. Ninivaggi was appointed CEO of the Federal-Mogul Vehicle Components segment (VCS).
In July 2012, Federal-Mogul announced a definitive agreement to purchase the BERU spark plug business from
In September 2014, the company formally announced the long-awaited modification to its corporate structure - a split into two separate companies: Federal-Mogul Powertrain and Federal-Mogul Motor-Parts. The Powertrain division will focus on manufacturing and selling OEM auto parts, while the Motor-Parts division will be responsible for selling aftermarket parts. Each company will have its own CEO and corporate-level staff, who will continue to report to the board of directors of Federal-Mogul Holding Corporation. The company expects the split to be completed in the first half of 2015, pending regulatory approval.[22]
In 2014, Honeywell completed a $155 million sale of its friction materials business to Federal Mogul.
In December 2016, Federal-Mogul completed the acquisition of the Beck/Arnley brand and certain associated assets. Based in Smyrna, Tennessee, Beck/Arnley is a provider of parts and fluids for foreign nameplate vehicles in North America.[citation needed]
In January 2017, majority shareholder Carl Icahn completed a $300 million deal for all of Federal-Mogul's stock, after which he changed the company from a public company to a private company.[16]
In April 2018, Tenneco announced that they had purchased Federal-Mogul in a deal worth approximately US$5.4 billion.[23] On October 1, 2018, Tenneco Inc. completed its acquisition.[3]
Company divisions
Federal-Mogul Powertrain
Federal-Mogul Powertrain designs and manufacturers original equipment powertrain components and system protection products in the United States and internationally, its diversified production line consists of various products, ranging from
Federal-Mogul Motor-Parts
Federal-Mogul Motor-Parts sells and distributes products under more than 20 brands in the global vehicle aftermarket, including ANCO wiper blades; Bentley-Harris protection solutions; Champion spark plugs, wipers and filters, BERU glow plugs; AE, Fel-Pro, Goetze, Nural, Glyco and Payen engine products; MOOG steering and suspension parts; and Ferodo and Wagner brake products.[25]
Awards
Federal-Mogul has received 16 Automotive News PACE Awards.[26] The awards are for automotive suppliers that show innovation, technological advancement and business performance.[27] Federal-Mogul received their first PACE Award in 2003; their most recent PACE Award was awarded in 2016.
References
- ^ "Icahn Enterprises L.P. (IEP) Closes Acquisition of Federal-Mogul (FDML)".
- ^ a b c d "Federal-Mogul – Investors – SEC Filings". corporate-ir.net.[permanent dead link]
- ^ a b "2017 - 2015 News Archive".
- ^ ISBN 1-58131-324-1.
- ^ "Federal mogule goetze training report - [DOCX Document]". vdocument.in. Retrieved January 20, 2024.
- ^ "Federal-Mogul Goetze". www.openbusinesscouncil.org. January 19, 2024. Retrieved January 20, 2024.
- ^ ISBN 978-0-88099-333-3.
- ^ a b c d e f g h i "1899–1940: Founded on Innovation". Federal-Mogul Corporation. 2011. Archived from the original on July 10, 2011. Retrieved March 6, 2011.
- ^ a b "1941–1956: Diversifying for Success". Federal-Mogul Corporation. 2011. Archived from the original on May 18, 2007. Retrieved March 6, 2011.
- ^ a b c d "1957–1974 Going Global". Federal-Mogul Corporation History. Archived from the original on January 23, 2013. Retrieved July 13, 2012.
- ^ Morton, Hudson T. (1965). Anti-friction Bearings. Ann Arbor, MI: Hudson T. Morton. p. 465.
- ISSN 0262-4079.
- ISBN 0-945903-44-8.
- ^ "Cooper Industries, Ltd.: Federal-Mogul Bankruptcy Confirmation Hearing Extended" (Press release). Cooper Industries. Business Wire. June 21, 2007. Retrieved February 13, 2018.
- ^ "Federal-Mogul Corporation". June 10, 2014.
- ^ Crain's Detroit Business. Retrieved February 13, 2018.
- ^ a b "1975–2011 A Bright Future". Federal-Mogul Corporation History. Archived from the original on May 7, 2012. Retrieved July 13, 2012.
- ^ a b c "Federal-Mogul Opens Shanghai Headquarters and Technical Center". eBearing News. Archived from the original on April 24, 2011. Retrieved August 3, 2012.
- ^ a b c "Federal-Mogul Buys Piston Ring Caster Daros". American Foundry Society. June 25, 2010. Archived from the original on May 2, 2014. Retrieved July 27, 2012.
- ^ a b "Federal-Mogul Says Rainer Jueckstock To Succeed Jose Maria Alapont As CEO". RTT News. March 12, 2012. Archived from the original on May 2, 2014. Retrieved August 1, 2012.
- ^ Walsh, Dustin (July 3, 2012). "Federal-Mogul acquisition of BorgWarner's Beru spark plug unit expected to boost sales $80 million". Crains Detroit Business. Retrieved August 1, 2012.
- ^ Clothier, Mark (September 3, 2014). "Icahn's Federal-Mogul to Split Motorparts, Powertrain". Bloomberg.
- ^ "Tenneco buys Icahn's Federal-Mogul in deal worth $5.4B". CNBC. Archived from the original on April 12, 2018.
- ^ Searing heat, frigid cold torture missile bearings. // Aviation Week & Space Technology, May 2, 1960, v. 72, no. 18, p. 14.
- ^ "FEDERAL-MOGUL TO PRESENT INNOVATIVE RANGE OF EFFICIENCY-ENHANCING TECHNOLOGIES AT THE 2012 IAA COMMERCIAL VEHICLE SHOW IN SEPTEMBER". Reuters. Archived from the original on August 3, 2012. Retrieved August 2, 2012.
- ^ "2017 Automotive News PACE Awards". Crain Communications. Retrieved September 13, 2016.
- ^ "2013 Automotive News PACE Awards". Crain Communications Inc. Retrieved September 13, 2016.