UPDATE 1-Federal-Mogul reaches reorganization deal

Newswire

(Adds details of reorganization plan, background, changes dateline from SOUTHFIELD, Mich., adds byline) By Susan Kelly CHICAGO, Jan 31 (Reuters) - Auto parts supplier Federal-Mogul Corp. said on Friday it has reached an agreement in principle with its U.S. creditors on a plan that would let it emerge from bankruptcy. Federal-Mogul, which is reorganizing under Chapter 11 protection after succumbing to mounting asbestos lawsuits, said all of its major creditors have agreed to the plan, ...

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