Federal-Mogul Corp. to invest $10 million to expand Blacksburg manufacturing facility
FOR IMMEDIATE RELEASE
October 7, 2011
Commonwealth of Virginia
Office of Govenor Bob McDonnell
RICHMOND, VA – Governor Bob McDonnell today announced that Federal-Mogul Corporation (NASDAQ: FDML), a leading global automotive supplier, plans to invest $10 million to expand its existing 275,000-square-foot automotive engine bearing manufacturing facility located at Blacksburg Industrial Park. The company's investment will provide for the installation of additional manufacturing lines and equipment, driving the creation of 50 new jobs in Montgomery County.
Speaking about today's announcement, Governor McDonnell said, "Virginia is recognized as the top state for business not only for our ability to attract new companies, but, equally important, for our ability to grow these relationships and retain business. As a valued Virginia employer since 1971, Federal-Mogul is a prime example of the cooperation at state and local levels to foster long-term relationships with global enterprises. With its close proximity to the Virginia Tech Corporate Research Center, a highly educated workforce and excellent quality of life, it is no surprise that Montgomery County is able to draw top technology and advanced manufacturing companies like Federal-Mogul."
"In addition to a location in Winchester, Federal-Mogul employs close to 400 Virginians in Montgomery County," said Jim Cheng, Virginia Secretary of Commerce and Trade. "It is always a significant victory when a company decides to expand a facility in Virginia, and I would like to congratulate Federal-Mogul on their growth to date."
Federal-Mogul Corporation is a leading global supplier of powertrain and safety solutions to the world's foremost original equipment manufacturers of automotive, commercial, aerospace, marine, rail and off-road vehicles; industrial, agricultural and power generation equipment; as well as the worldwide aftermarket. Federal-Mogul's leading technology and innovation, lean manufacturing expertise and global distribution network deliver world-class products, brands and services to customers around the world. Federal-Mogul was founded in Detroit in 1899, is headquartered in Southfield, Michigan, and employs approximately 45,000 people in 35 countries.
"We appreciate the strong relationship that we have with Governor McDonnell, Secretary Cheng and the leadership of Montgomery County," said Brian Thrush, plant manager, Federal-Mogul Blacksburg. "The planned new equipment and manufacturing capacity expansion at our Blacksburg facility, together with our excellent work force, will enable Federal-Mogul to produce and deliver more of our market-leading engine bearings to major auto manufacturers and will support the company's strategy for sustainable global profitable growth."
The Virginia Economic Development Partnership worked with Montgomery County and the Montgomery County Department of Economic Development to secure the project for Virginia. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company's recruitment, training and retraining activities.
"We are very pleased that the County is partnering with this worldwide supplier of quality products," said Montgomery County Board Chair Jim Politis. "This great news is a testament to the success of Federal-Mogul and our economic development efforts to focus on retaining existing manufacturers and helping them grow."
Office of the Governor
Contact: Jeff Caldwell
Phone: (804) 225-4260
Virginia Economic Development Partnership
Contact: Suzanne West
Phone: (804) 545-5806
Contact: Jim Burke
Phone: (248) 354-4530