Federal-Mogul Corp. agrees to sell some of its U.S. camshaft operations to ASIMCO of Beijing, China, for $25.7 million. Facilities in Grand Haven, MI, and Orland, IN, and Federal-Mogul’s 80% share of an assembled camshaft joint venture with Nippon Piston Ring Co. Ltd. in Grand Haven, are included in the sale. The affected plants employ about 500 workers and had combined sales of $80 million in 2001. The supplier also plans to add about 100 engineers per year during the next several years to ...

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