| 2:11 AM EST

Federal-Mogul Cancels Parts Unit Spinoff



Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Federal-Mogul Holdings Corp. has dropped plans to spin off its parts division as a separate publicly traded company.

The Southfield, Mich.-based supplier announced the spinoff in 2014 as its powertrain business prepared to integrate a trio of acquisitions. Chairman Carl Icahn said at the time that splitting off the aftermarket unit would allow it to be more flexible and responsive.

But Federal-Mogul said in November it was suspending the plan pending a review by year-end. Now the company says it can achieve the same flexibility by operating both businesses—Motorparts and Powertrain—as divisions, each with its own CEO reporting directly to the Federal-Mogul board.

Related Topics


  • RAV4: 4 Things About the Fourth Generation

    Although the RAV4 has plenty of heritage in the small crossover segment, competition has gotten a whole lot tougher, so Toyota has made significant changes to the fourth-generation model.

  • 2019 Lexus ES 350 Introduced

    The Lexus ES sedan is more than just an offering within the company’s lineup.

  • Designing the 2019 Ram 1500

    Ram Truck chief exterior designer Joe Dehner talks about how they’ve developed the all-new pickup. “We’ve been building trucks for over 100 years,” he says. “Best I could come up with is that this is our 15th-generation truck.”