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FEDERAL-MOGUL COMPLETES ACQUISITION OF SPX AFTERMARKET BUSINESSES

 SOUTHFIELD, Mich., Oct. 26 /PRNewswire/ -- Federal-Mogul Corporation (NYSE: FMO) and SPX Corporation (NYSE: SPW) announced today the completion of Federal-Mogul's acquisition of Sealed Power Replacement, SPX's U.S. and Canadian automotive aftermarket operations. These operations distribute engine and chassis components to the North American aftermarket.
 Federal-Mogul and SPX also completed a long-term trademark agreement under which Federal-Mogul will become the distributor of engine and chassis parts sold under the Sealed Power and Speed-Pro brand names in North America. Federal-Mogul also acquired the right to use these trademarks throughout the rest of the world.
 "This acquisition will strengthen both companies," Federal-Mogul Chairman and Chief Executive Officer Dennis J. Gormley said. "It will broaden our worldwide coverage of vehicular aftermarket parts and enhance the service we offer our customers."
 Headquartered in Southfield, Federal-Mogul is a global distributor and manufacturer of a broad range of precision parts primarily for automobiles, light trucks, heavy trucks, and farm and construction vehicles. The company serves both the aftermarket and the original equipment market providing quality products -- as they are needed -- to customers around the world. Federal-Mogul operates 32 plants, more than 70 distribution centers and four major research centers worldwide.
 -0- 10/26/93
 /CONTACT: Lonnie Ross of Federal-Mogul, 313-354-9934/
 (FMO SPW)


CO: Federal-Mogul Corporation; SPX Corporation; Sealed Power
 Replacement ST: Michigan IN: AUT SU: TNM


ML -- DE028 -- 2491 10/26/93 15:01 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
Words:229
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