Printer Friendly

FEDERAL-MOGUL EXPANDS INTERNATIONAL AFTERMARKET DISTRIBUTION IN SPAIN AND VENEZUELA

 SOUTHFIELD, Mich., Jan. 4 /PRNewswire/ -- Federal-Mogul Corporation (NYSE: FMO) continues its program to expand its international aftermarket distribution capabilities. In the 1993 fourth quarter, the company formed a joint venture to distribute automotive parts throughout Spain and acquired a Venezuelan retail distributor of heavy duty components.
 In the fourth quarter, Federal-Mogul's Spanish subsidiary, Federal- Mogul World Trade de Espana, S.A., formed a joint venture with Cojinetes de Friccion S.A. (COFRISA) to distribute automotive aftermarket parts throughout Spain. COFRISA is a manufacturer, wholesaler and retailer of components for engines, machinery and spare parts with annual sales of approximately $13 million. Under the joint venture, COFRISA's aftermarket customers, inventory and distribution capabilities will be consolidated with Federal-Mogul's existing operations. The joint venture will be operated by Federal-Mogul under the new name, Federal- Mogul Distribucion, S.A.
 "The COFRISA joint venture combines the two strongest automotive aftermarket players in Spain to provide customers there with the very best products and service available," said Federal-Mogul Worldwide Aftermarket Operation President Wayne G. Smith.
 In December, Federal-Mogul acquired La Font Repuestos C.A., a distributor of heavy-duty components with approximately 60 employees and nine branches located strategically throughout Venezuela. La Font Repuestos, with annual sales of approximately $3.2 million, was established in 1979 and is the country's second-largest national heavy- duty distributor.
 "This acquisition is a great strategic fit with our current product offering including the Sealed Power lines that have a particularly strong reputation in the heavy-duty market," Smith explained. "The new retail outlets will carry Federal-Mogul's full line of heavy-duty products including the TRW and Sealed Power brands. This is the initial step in our program to grow Federal-Mogul's aftermarket business in Venezuela originally established in 1972."
 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- 1/4/94
 /CONTACT: Lonnie Ross of Federal-Mogul, 313-354-9934/
 (FMO)


CO: Federal-Mogul Corporation ST: Michigan IN: AUT SU:

KE-RD -- DE008 -- 8859 01/04/94 11:18 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 4, 1994
Words:381
Previous Article:FAIRCHILD BOARD ELECTS ROBERT KELLEY VICE PRESIDENT OF THE FAIRCHILD CORPORATION
Next Article:KAMAN BOARD OF DIRECTORS DECLARES DIVIDEND
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters