Federal-Mogul Expands Range of National Heavy Duty Wheel End Solutions
SOUTHFIELD, MI — The National heavy duty wheel end brand from Federal-Mogul has expanded its extensive line of commercial-vehicle solutions with a complete offering of Everlok/Axilok unitized spindle nuts for steer, drive and trailer axles. The one-piece Everlok/Axilok assembly replaces conventional two- and three-piece systems for faster, more accurate bearing adjustment and reduced maintenance. The
Three Automakers Object to Federal-Mogul’s Plan to Emerge from Bankruptcy
Ford Motor Co., DaimlerChrysler Corp. and a Volkswagen AG unit have raised objections to Federal-Mogul’s plan to emerge from bankruptcy protection. According to a recent report from the Detroit Free Press, the three carmakers filed objections a Wilmington, DE, Bankruptcy Court regarding Federal-Mogul’s plan to shed liability for as much as $9.41 billion in death and injury claims involving asbestos.
Curt Hutchins Named VP and President of Eaton’s Heavy Duty Transmission Division
Eaton Corp. has appointed Curt Hutchins to vice president and president of its Heavy Duty Transmission Division, effective April 1. Hutchins had been vice president and general manager of Eaton’s Clutch Division. Prior to his Clutch position, he served as general manager of Eaton’s Automated and Fleet Transmission Products business unit, part of the Truck Group’s Heavy Duty Transmission Division.
Cooper Industries Reports Full-Year 2005 Earnings Increase
Cooper Industries, Ltd., a global manufacturer of electrical products and tools, has reported fourth quarter 2005 earnings per share of $1.10 (diluted), an increase of 17 percent compared with earnings of 94 cents per share for the fourth quarter of 2004. Fourth quarter 2005 revenues increased 3 percent to $1.19 billion, compared with $1.15 billion for the same period last year. For the fourth quarter of 2005, net income rose 17 percent to $104 million, compared with $88.9 million for the prior year’s fourth quarter.
Cooper Industries Reaches Asbestos Deal
Cooper Industries has reached an agreement to resolve some of its liability for asbestos claims arising from Cooper’s former Abex Friction Products business by contributing to a trust being set up in the bankruptcy case of Federal-Mogul Corp.
Borruso Steps Down As Head of Hella North America
Joseph Borruso has announced he will retire this month from his post as president and CEO of Hella North America. Borruso will continue to serve in an advisory position reporting to the German-based automotive supplier’s board of management and also will assume a non-operational position as president emeritus of Hella’s North American operations.
Federal-Mogul Launches New Line of National Cast Aluminum Hub Caps
Federal-Mogul Corp. has expanded its product offerings for heavy-duty truck and trailer wheel-ends with a new line of National cast aluminum hub caps. The new line of National hub caps joins Federal-Mogul’s Abex heavy-duty friction products and National seals and bearings in a complete wheel-end solution for nearly any commercial application.