Federal-Mogul’s President has told just-auto he foresees acquisition opportunities for his company in the next twelve months amid further supplier sector restructuring.
Jose Maria Alapont says that while Federal-Mogul is well placed for the future after extensive restructuring in recent years, some suppliers are vulnerable following an unprecedented dropoff in volumes this year—especially in North America—that is now easing.
Alapont is upbeat about the financial position of Federal-Mogul, which is controlled by billionaire investor Carl Icahn who owns 75% of the company’s common stock and chairs the Federal-Mogul board.
He believes Federal-Mogul is in a very good position for further acquisitions as part of the process of further supplier sector consolidation. “In the next twelve months we will be looking very seriously at potential acquisitions all around the world. We have good liquidity, very solid credit lines and we generate cash, we don’t consume it. It’s a very strong financial position.”
