please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages a major contributor to this article appears to have a close connection with its subject . it may require cleanup to comply with wikipedia s content policies particularly neutral point of view . please discuss further on the talk page . june 2014 learn how and when to remove this template message this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . june 2014 learn how and when to remove this template message learn how and when to remove this template message federal mogul holdings corporation type public traded as nasdaq fdml industry automotive energy industrial and transport powertrain and vehicle safety products founded 1899 ; 117 years ago 1899 as the muzzy lyon company headquarters southfield michigan united states key people carl icahn chairman of the board rainer j ckstock ceo federal mogul powertrain daniel a. ninivaggi ceo federal mogul motorparts products pistons rings pins liners valve seats and guides ignition bearings bushings heatshields sealing systems protection transmission brake chassis wiper products revenue us 7.317 billion 2014 1 net income us 168 million 2014 1 total assets us 7.067 billion 2014 1 total equity us 806 million 2014 1 number of employees 48 600 december 31 2014 website www.federalmogul.com federal mogul corporation is an american developer manufacturer and supplier of powertrain components and vehicle safety products . the company s wide variety of products are used by numerous original equipment manufacturers around the globe as well as servicers of automotive commercial aerospace marine rail and off road vehicles ; and industrial agricultural and power generation equipment . 2 unreliable source 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 manufacturers original equipment powertrain components and system protection products in the united states and internationally including engine bearings pistons piston pins piston rings cylinder liners valve seats and guides spark plugs ignition coils transmission products technical textiles and connecting rods . 3 federal mogul motorparts sells and distributes products under more than 20 brands in the global vehicle aftermarket including anco wiper blades ; bentley harris protection solutions ; champion spark plugs wipers and filters beru glow plugs ; ae fel pro goetze nural glyco and payen engine products ; moog steering and suspension parts ; and ferodo and wagner brake products . 2 contents 1 history 2 automotive news pace awards 3 restatements 4 references 5 external links history edit the company was founded in detroit in 1899 by j. howard muzzy and edward f. lyon as the muzzy lyon company . 4 muzzy and lyon went into business together producing mill supplies and rubber goods . 4 in addition the partners formed a subsidiary called mogul metal company where they launched various bearing innovations . 3 4 5 to fit consumer needs the pair began producing bearings made from their own babbitt metal called mogul an alloy of tin antimony and copper . 3 4 5 the product was trademarked under mogul and duro . 3 4 5 in addition to babbitt metal muzzy and lyon were also known for inventing the process of custom die casting bearings to suit proper size and shape . 5 the muzzy lyon company bearings business proved successful in the early 1900s and became the pair s main concern with buick as one of their earliest customers . 4 the muzzy lyon company later merged with an engine bearings and bushings manufacturing company federal bearings and bushings corporation . 5 federal bearings & bushings co. was founded in 1915 by a group of detroit businessmen . 3 the company initially consisted of mogul metal and federal and bower roller bearing co. but later merged in 1924 to form federal mogul bower bearings inc. 3 the combined company manufactured bronze bearings a product the muzzy lyon company did not supply . 3 to solidify their success the entire muzzy lyon company merged with federal bearings and bushing in 1924 to become federal mogul corporation . 5 the group established a research division with the help of battelle memorial institute in 1929 . 5 during the depression federal mogul corp. invested in the equi poise propeller division . 5 the companies continued advancements in the propeller industry were recognized in 1941 when federal mogul was named by whom the world s largest manufacturer of motorboat propellers . 5 in 1932 the company developed a new alloy called c 100 the first new bearing material since the discovery of babbitt metal . 5 the federal mogul corp. research team revamped the c 100 in 1934 to create a c 50 alloy . 5 in 1955 the company acquired national motor bearing company resulting in a company name change to federal mogul bower . 6 in addition to acquiring another company federal mogul bower was listed as 350 on the fortune 500 with total sales of 100 million the following year . 7 to further federal mogul bower expansion the company opened business operations in switzerland . 5 shortly after the company opened established their first overseas service center in antwerp belgium in 1962 . 8 continuing the expansion of products federal mogul bower s arrowhead division began to manufacture components for nasa s saturn launch vehicle in 1963 . 8 in april 1965 the company was renamed federal mogul corporation following a merger with sterling aluminum products . 6 9 in 1966 federal mogul corporation relocated from downtown detroit establishing its corporate headquarters in southfield michigan . 8 in 1981 federal mogul arrowhead parts were implemented in the nasa space shuttle launch . 8 that same year the company won a claim in the supreme court to patent a process for curing rubber based on the mathematical equation written by swedish chemist svante arrhenius in 1889 . the us patent office had initially rejected federal mogul s claim on the basis that neither a formula as a law of nature nor a computer program based on such a formula could be patented . 10 in 1998 the company acquired cooper industries and brands including anco wiper blades champion ignition moog chassis wagner and abex friction and wagner and blazer lighting . 11 that same year federal mogul also acquired turner & newall a building materials company based in manchester uk . turner & newall was one of the world s largest manufacturers of asbestos related products including those made with blue crocidolite asbestos mined in south africa . turner & newall was responsible for the armley asbestos disaster in leeds uk . after the acquisition federal mogul set aside approximately 2.1 billion to cover asbestos related claims but that amount provide insufficient . 12 the large number of products liability claims that came with this acquisition were largely responsible for federal mogul s federal chapter 11 bankruptcy filing in 2002 . 13 during the company s restructuring federal mogul corporation acquired multiple companies including robert g. evans co. hanauer machine works inc. metaltec inc. mather co. and fel pro inc. 14 the company emerged from chapter 11 reorganization in january 2008 and in april 2008 the company listed class a common stock on nasdaq under the trading symbol fdml . 14 in june 2010 federal mogul expanded further into asia by opening a headquarters and technical center in shanghai china . 15 the asia pacific headquarters and technical center facility contains powertrain dynamometers and vehicle braking test cells among other processes . 15 the location allows for increased technical support to powertrain and vehicle customers as well as technology development . 15 federal mogul acquired daros group in june 2010 a privately owned supplier of pistons for large bore engines used in industrial energy generation and commercial shipping . 16 the acquisition of the group included operations in china sweden and germany . 16 the purchase of daros added two stroke and four stroke piston ring products to federal mogul s portfolio of industrial piston rings . 16 technical center ann arbor michigan in december 2010 barcelona spain warehouse was shut down and moved to madrid . in march 2012 federal mogul s board of directors announced its decision to modify the company s corporate structure to create separate powertrain and vehicle components segments each with its own ceo . 17 rainer jueckstock former senior vice president of the company s powertrain energy business was named ceo for the powertrain segment effective april 1 2012 . 17 in february 2014 daniel a. ninivaggi was appointed ceo of the federal mogul vehicle components segment vcs . in july 2012 federal mogul announced a definitive agreement to purchase the beru spark plug business from borgwarner inc. 18 in september 2014 the company formally announced the long pending modification to the company s corporate structure would be a split into two separate companies federal mogul powertrain and federal mogul motorparts . the powertrain division will focus on the manufacturing and selling of oem auto parts while the motorparts division focuses on selling aftermarket parts . each individual company has their own ceo and corporate level staff that will continue to report to the board of directors of federal mogul holding corporation . the company expects the split to be completed in the first half of 2015 pending regulatory approval . 19 in 2014 honeywell completed the 155 million sale of its friction materials business to federal mogul corp. automotive news pace awards edit federal mogul has received a total of 16 automotive news pace premier automotive suppliers contributions to excellence awards honoring the company s technological advances for which citations can be found on the official pace awards web site 20 the automotive news pace awards recognize superior innovation technological advancement and business performance among automotive suppliers . this prestigious award is recognized around the world as the industry benchmark for innovation . 21 federal mogul products that have received pace awards include 2003 wagner thermoquiet brake pads and shoes 2006 monosteel piston 2007 goetze diamond coating gdc high temperature alloy hta exhaust gaskets 2010 durabowl piston reinforcement process high precision electro erosion machining hpeem bayonet connection system for profile wiper blades 2011 ecotough coated piston low friction lkz oil ring 2012 two dimensional 2d ultrasonic testing for raised gallery diesel pistons 2013 irox highly effective coating for engine bearings 2013 injection molding of high modulus bonded pistons used in high pressure transmissions 2014 high performance bearings without lead 2015 low friction duroglide piston ring pack 2015 microtorq seal 2016 hybrid induction welding for steel pistons restatements edit on aug 18 1997 federal mogul corporation restated the previously issued 1996 1995 and 1994 financial statements for certain charges recorded in 1996 . the restatement does not affect the company s balance sheet at december 31 1996 . 22 references edit a b c d federal mogul investors sec filings . corporate ir.net . a b federal mogul to present innovative range of efficiency enhancing technologies at the 2012 iaa commercial vehicle show in september . reuters . retrieved 2 august 2012 . a b c d e f g klier thomas h ; rubenstein james n. 2008 . who really made your car restructuring and geographic change in the auto industry . kalamazoo mi w. e. upjohn institute . pp. 68 69 . isbn 978 0 88099 333 3 . a b c d e f turner tyya n. 2005 . vault guide to the top manufacturing employers . new york ny vault inc. pp. 108 112 . isbn 1 58131 324 1 . a b c d e f g h i j k l 1899 1940 founded on innovation . federal mogul corporation . 2011 . retrieved 2011 03 06