Auto parts maker Federal-Mogul posts steep loss

DETROIT (Reuters) - U.S. auto parts supplier Federal-Mogul Corp (FDML.O) reported a steep fourth-quarter loss on Tuesday, hit by sharp production cuts by automakers reeling from the weakest demand in decades.

The net loss came to $529.6 million, or $5.35 per share, compared with a year-earlier profit of $1.39 billion, or $15.23 a share.

Revenue fell 25 percent to $1.32 billion.

Federal-Mogul, which emerged from bankruptcy protection in late 2007, has been in the process of closing several facilities and shedding 4,000 jobs, or 8 percent of its global workforce.

The company said it had more than $1.3 billion of available liquidity.

Federal-Mogul makes pistons, spark plugs, windshield wiper blades, brake pads and dozens of other products for automotive manufacturers and the replacement parts market.

Billionaire investor Carl Icahn has acquired a 75 percent stake in the company and is nonexecutive chairman.

(Reporting by Soyoung Kim; Editing by Lisa Von Ahn)