WebFeb 24, 2024 · In 2001, a total of 22 former Texaco employees and contractors won $35.2 million in an asbestos-related lawsuit against Federal-Mogul’s former owners. According to court documents, the workers were employed at one of Texaco’s refineries, where they worked with and around Flexitallic gaskets that contained excessive amounts of asbestos. WebFederal-Mogul acquires National Seal Division of the National Motor Bearing Company. National was one of the country's largest manufacturers of oil seals and the acquisition earned Federal-Mogul its first listing among Fortune magazine's 500 largest American companies. Included in the National sale was the Van Wert, Ohio, USA manufacturing ...
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WebApr 10, 2024 · Tenneco will acquire Federal-Mogul for $5.4 billion through a combination of $800 million in cash, 5.7 million shares of Tenneco Class A common stock (representing a 9.9% voting interest), 23.8 million shares … WebAt DRiV, we’re committed to ensuring we engineer and manufacture parts that meet and exceed our OE customers’ needs for innovation, quality, performance and cost. And deliver it on time, every time, to every corner of the world. Innovation at DRiV starts with anticipating new and different needs to develop the next evolution of technology ... dave heaton obituary iowa
Jose Maria Alapont to Retire as President and CEO of Federal-Mogul …
WebApr 10, 2024 · The acquisition will be funded through cash, Tenneco equity and assumption of debt. Icahn Enterprises L.P., owner of Federal Mogul, will get US$ 800 million cash and 29.5 million of Tenneco common shares in the deal. The equity value of the deal is US$ 2.4 billion. Federal-Mogul had gross debt of US$ 3.1 billion. WebThe first came on October 1, 2024, when Tenneco acquired Federal-Mogul, a fellow automotive supplier whose roots date back to 1899, when, as the Muzzy-Lyon Company, … WebOct 1, 2024 · Cash consideration of $800 million was financed through a new senior credit facility that will replace Tenneco’s existing senior credit facilities and certain senior facilities of Federal-Mogul LLC. The new senior credit facility consists of a $1.7 billion term loan A, a $1.7 billion term loan B and a $1.5 billion revolving credit facility. dave heaton pittsburgh