Federal-Mogul loses its bearings

Federal-Mogul Corporation is to sell its industrial heavy wall bearing operation in McConnelsville, OH, to Miba-Bearings.

Federal-Mogul Corporation is to sell its industrial heavy wall bearing operation in McConnelsville, OH, to Miba-Bearings – US, a subsidiary of Miba AG, an industrial bearing manufacturer based in Laakirchen, Austria.

The sale is subject to regulatory review and certain other conditions, and isexpected to be completed in the third quarter of 2001. Terms of thetransaction were not disclosed.

The McConnelsville business manufactures full round and half shell journalbearings for use by the locomotive industry. The friction-reducing bearings are also supplied for large engines, compressors, rolling mills, aircraft gearboxes and other applications.

The McConnelsville site has 270 employees and had net sales of approximately $33 million in 2000. ‘This sale is part of Federal-Mogul’s continuing effort to focus on corebusiness activities,’ said Federal-Mogul President and Chief Operating Officer Chip McClure.

‘Federal-Mogul remains committed to manufacturing and distributing engine bearings for automotive and heavy-duty truck applications as part of our core Power Cylinder Systems activities,’ he concluded.

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