U.S. District Court affirms Federal-Mogul's plan of reorganization

Earlier this month, Federal-Mogul Corporation announced that its fourth amended joint plan of reorganization had been confirmed by the U.S. Bankruptcy Court. Recently, the company received word that the U.S. District Court had also affirmed the plan. This will allow the company's emergence from Chapter 11 before year end.

"We are extremely pleased to have reached this significant milestone signaling the emergence of the company from Chapter 11 proceedings," says Federal Mogul Chairman, President and Chief Executive Officer José Maria Alapont. "The Federal-Mogul team worldwide is devoted to exceeding employee, customer and stakeholder expectations through service and operational excellence, leading technology and the company's sustainable global profitable growth strategy."

Federal-Mogul voluntarily filed in 2001 for Chapter 11 in the United States and Administration in the United Kingdom 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 global automotive supplier.

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