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Article: briefs.
- Article from:
- European Rubber Journal
- Article date:
- March 1, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Federal-Mogul $550 million in the red in 2006
Detroit, Michigan - Auto parts supplier Federal-Mogul Corp. said its operating financial performance improved in 2006 as it prepares to emerge from more than five years of bankruptcy protection this spring.
However, a one-time $501 million settlement charge related to the Chapter 11 bankruptcy case kept Federal-Mogul's finances for the three months and for the 12 months ended December 2006, firmly in the red.
The company reported a net loss of $467 million ([euro]360 million) on revenue of $1540 million ([euro]1184 million) during the fourth quarter, compared with a net loss of $204 million on ...