SOUTHFIELD, Mich. (Feb. 7)—Federal-Mogul Corp. has reached an agreement to sell its Signal-Stat Lighting Productions division to Truck Lite-Co. Inc., a subsidiary of Penske Co. L.L.C., for $23 million. Given its Chapter 11 status, Federal-Mogul now must gain approval of the U.S. Bankruptcy Court in Wilmington, Del., through a Feb. 26 hearing. Signal-Stat, which produces exterior lighting and power distribution parts for heavy-duty and commercial vehicle customers in both the original equipment and replacement markets, posted 2001 sales of about $54 million. Under the proposed agreement, Federal-Mogul plants in Sparta, Tenn., and Boyertown, Penn., will continue to supply products to Signal-Stat.
Federal-Mogul to sell heavy-duty, commercial vehicle lighting unit
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