Crain News Service report
SOUTHFIELD, Mich. (Oct. 28, 2013) — Automotive aftermarket and OE supplier Federal-Mogul Corp. reported a 9-percent increase in net sales for the third quarter of 2013, which ended on Sept. 30.
The Southfield-based company reported net sales of $1.69 billion, a $145 million improvement from 2012. Federal-Mogul cited a stronger demand for its products used in European light vehicle production. Its European sales were up 12 percent.
Net income was $38 million, an increase of $49 million from the third quarter of 2012.
The firm also completed its divestiture of its original equipment and aftermarket fuel delivery products business, which included an engineering center and manufacturing operations in Logansport, Ind., along with other related assets. The business had 2013 year-to-date sales of approximately $80 million and has 380 employees.