Federal-Mogul Corporation announced December 18 that its Plan of Reorganization is scheduled to become effective on December 27, marking the company’s emergence from Chapter 11.
Federal-Mogul’s Plan of Reorganization was confirmed by the U.S. Bankruptcy Court on November 8 and affirmed by the U.S. District Court on November 14. The Confirmation Order relating to the plan has become final and non-appealable.
“We are delighted to have reached this significant milestone in Federal-Mogul’s 108-year history of serving the global automotive industry. We are confident about our future and wish to acknowledge the support and loyalty of our customers, suppliers and employees worldwide,” said Federal-Mogul chairman, president and CEO José Maria Alapont.
“The company’s performance reflects the dedication of the Federal-Mogul team, paving the way toward emergence from Chapter 11,” Alapont said. “We are committed to our global strategy for sustainable profitable growth, as we remain focused on creating value for our customers through innovative technologies, leading products, operational and service excellence, and best cost optimization in all areas of our business.”
The record date for holders of allowed claims and equity interests under the Plan of Reorganization was November 8, 2007 and the effective date of the Plan of Reorganization is scheduled for December 27, 2007. The full Plan of Reorganization and related Disclosure Statement are available at the Company’s Web site, www.federal-mogul.com.
Federal-Mogul Corporation is a leading global supplier, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its global profitable growth strategy, creating value and satisfaction for its customers, employees and stakeholders. Federal-Mogul was founded in
