Federal-Mogul Holdings Corporation has announced it has terminated its previously announced spin-off of its Motorparts division.
The Company will continue to operate in two separate, independent segments with separate CEOs who will each report directly to the board of directors. The separate divisions more effectively serve their unique markets and allow each operating segment to more quickly react to its respective market conditions.
Federal-Mogul operates two independent business divisions, each with a chief executive officer reporting to Federal-Mogul’s Board of Directors.
Federal-Mogul Powertrain designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial and transport applications.