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June 28, 2010 at 17:18

Federal Mogul Asia Pacific Headquarters & Technical Center Opening Ceremony

June 28, 2010 at 17:18

A note from Gabelli & Co. Research Analyst for the Asia Pacific region - Chong-Min Kang dated June 25, 2010.



I attended the Federal Mogul Asia Pacific Headquarters & Technical Center Opening Ceremony today in Pudong. It is located about 1 hour outside of downtown Shanghai.

It was a ribbon cutting ceremony. There were about 400 people in attendance. I am guessing about half were Federal Mogul employees. The other half were suppliers, customers, some trade magazines and some local government officials.

The facility is 9,000 square meters or about 97,000 square feet. They have approximately 200 people working there now and expect to have about 300 in total. As per opening remarks, the industry in China has been growing 30% over the past 5 years and they expect strong growth to continue. They stressed that they are not only in China because of low labor costs, but because it is growth market. The average age of vehicles in China is 3 years old, which presents a good future opportunity for their aftermarket business.

They provided a tour of the technical center where they showed off new testing equipment and explained how some of the equipment worked – pictures were not allowed.

I introduced myself to Jose Maria Alapont, the President and Chief Executive Officer and gave him your regards and congratulations, and he asked me to give you his regards.



The above information is not intended to be a complete description of any security or company and it is not an offer or solicitation to buy or sell any security, nor is it a research report with respect to any company mentioned.
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GAMCO Investors, Inc. ("GAMCO") prepared this posting as a matter of general information. We do not intend it to be a complete description of any security or company. All facts and statistics referenced herein are from sources we believe to be reliable, but we do not guarantee their accuracy and it may be incomplete or condensed. GAMCO makes no commitment to update this posting and it may remove it at anytime from its website. This posting is made available free of charge for all persons that may legally view this posting regardless of whether you have a relationship with GAMCO or its affiliates. This posting does not constitute an offer or solicitation to purchase or sell a security nor is it a solicitation of a proxy or a vote. The posting is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.

Because the portfolio managers at GAMCO and our affiliates make individual investment decisions with respect to the client accounts that they manage, these accounts may have transactions inconsistent with the information contained in this posting. These portfolio managers may know the substance of the posting prior to its posting. GAMCO and its affiliates may receive compensation from the companies referenced herein or may be soliciting any company referenced herein as a client for their services.

  • As of May 31, 2010 GAMCO and its affiliates beneficially own on behalf of their investment advisory clients or otherwise approximately 1.49% of the outstanding equity securities of FEDERAL MOGUL CORP.