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CHICAGO, July 29 (Reuters) - Auto parts supplier Federal-Mogul Corp. , which is reorganizing under bankruptcy protection, on Tuesday posted a quarterly loss due to Chapter 11-related expenses.
Federal-Mogul, based in Southfield, Michigan, said it had a net loss of $5 million, or 6 cents a share, in the second quarter, compared with a profit of $16 million, or 17 cents, a year ago.
Sales rose slightly to $1.45 billion from $1.44 billion. Minus the impact of divestitures and the weak dollar, which boosts revenue overseas, sales would have been down 5 percent, the company said.
The maker of Champion spark plugs, Moog chassis, Fel-Pro gaskets and Wagner brake and lighting products filed for Chapter 11 bankruptcy protection in October 2001, under pressure from mounting asbestos lawsuits.
In March, Federal-Mogul filed a plan for emerging from bankruptcy protection with the U.S. Bankruptcy Court in Delaware.
Federal-Mogul is among hundreds of U.S. companies that have been hit with lawsuits from claimants exposed to asbestos, a fire-resistant material that can cause a form of lung cancer and other illnesses.