Federal-Mogul's plan of reorganization approved by bankruptcy judge

Federal-Mogul Corporation received good news Thursday, after Judge Judith K. Fitzgerald issued an order confirming the company's plan of reorganization, paving the way for the company's emergence from Chapter 11 bankruptcy.

Federal-Mogul is now seeking the affirmation by the United States District Court, which must take place before the company can emerge from bankruptcy.

Chairman, President and Chief Executive Officer José Maria Alapont has said emergence from Chapter 11 will be instrumental in the company's drive to generate growth in key markets and develop innovative technologies at competitive cost, while creating value for its global customers.

"We thank our employees, customers and stakeholders for their continued support," Alapont adds. "The Federal-Mogul team has been relentless in its dedication to service excellence, and remains focused on our successful operating performance and the implementation of our sustainable global profitable growth strategy."

Federal-Mogul voluntarily filed in 2001 for Chapter 11 in the United States and administration in the U.K. in order to separate its asbestos liabilities from its true operating potential. These restructuring proceedings provided the company the opportunity to emerge from bankruptcy as a leading global automotive supplier.

For more information about Federal-Mogul Corporation, visit the company's Web site.