Ferodo

A "Ferodo bridge" at Camden Road railway station in North London.

Ferodo is a British brake company based in Chapel-en-le-Frith in High Peak, Derbyshire.

History

Ferodo's Caernarfon factory was opened by Princess Margaret in 1964

It was founded in 1897 by Herbert Frood (1864-1931),[1] with manufacturing starting in Gorton in 1901 and moving to Chapel en le Frith, Derbyshire in 1902.[2] Ferodo has been a world leading company dedicated to the design and manufacture of friction products, especially braking materials. It was the first company to use asbestos for brake linings and developed the first modern brake friction materials.[3]

Ferodo UK became part of Turner & Newall in 1926. It had a factory at Chapel-en-le-Frith and in 1964 opened another at Caernarfon.[4]

In 1998 the business was acquired by the huge automotive group Federal-Mogul.[5] It is now part of Federal-Mogul Aftermarket UK Limited. In 2012 ₤13m was invested in new floors, insulation, low energy heating and new process machines.[6]

Asbestos trust

Federal-Mogul got into financial difficulties and filed for Chapter 11 protection as a result of asbestos claims.[7] In the United Kingdom the business went into administration in October 2001[8] leaving a pension fund deficit estimated at £400 million.[9]

The T&N Subfund of the Federal-Mogul Asbestos Trust[10] was organized to pay all valid Asbestos Trust claims for which the T&N Entities have legal responsibility. The Trust was created December 27, 2007 as a result of the confirmation of The Federal-Mogul Chapter 11 Joint Plan of Reorganization.[11]

For claimants whose principal exposure to asbestos was in the United Kingdom or one of several other non-US countries, a UK Asbestos Trust[12] was established to provide for the payment of asbestos claims in addition to the US-focused Asbestos Trust described above. This includes posthumous payments to families of Ferodo factory workers.[13]

Advertising

Ferodo is famous for advertising by having the Ferodo brand name painted on British rail bridges over main roads.

References

  1. ↑ Chapel-en-le-Frith Parish Council official guide - also photo of Herbert Frood
  2. ↑ Summary of records held in Derbyshire Archives Office
  3. ↑ History of Asbestos, All About Asbestos
  4. ↑ T&N companies, The T&N Asbestos Trust
  5. ↑ Federal-Mogul Corp completes T&N buy
  6. ↑ Buxton Advertiser 11 July 2013 with photo of the refurbished factory
  7. ↑ Federal-Mogul Financial restructuring
  8. ↑ Legal Update
  9. ↑ Business analysis
  10. ↑ Federal-Mogul Asbestos Personal Injury Trust
  11. ↑ Federal-Mogul Corporation Reorganization Web site
  12. ↑ The T&N UK Asbestos Trust
  13. ↑ Alex Hickey, Ferodo worker’s family compensated over asbestos death, Caernarfon Herald, 6 May 2010

External links

This article is issued from Wikipedia - version of the Wednesday, May 04, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.