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Ferodo

From Wikipedia, the free encyclopedia
Ferodo
IndustryAutomotive
Founded1897
FounderHerbert Frood
HeadquartersChapel-en-le-Frith
ProductsBrakes
Websitewww.ferodo.co.uk

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

History

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A Ferodo bridge at Camden Road railway station
Ferodo's Caernarfon factory was opened by Princess Margaret in 1964

Ferodo was founded in 1897 by Herbert Frood (1864–1931),[1] with manufacturing starting in Gorton in 1901 and moving to Chapel-en-le-Frith in 1902.[2] Ferodo 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 1961, it merged its Australian operations with the brake lining division of James Hardie.[5] In 1980, Turner & Newall sold its 40% shareholding in Ferodo-Hardie to James Hardie.[6]

In 1998 Turner & Newall was acquired by the huge automotive group Federal-Mogul.[7] In 2012, £13 million was invested in new floors, insulation, low energy heating and new process machines.[8]

Visits

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On 21 November 1958, Philip, Duke of Edinburgh opened the £750,000 research centre, later visiting Chesterfield College of Technology.[9]

Asbestos trust

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Federal-Mogul got into financial difficulties and filed for Chapter 11 protection as a result of asbestosis claims.[10] In the United Kingdom the business went into administration in October 2001,[11] leaving a pension fund deficit estimated at £400 million.[12]

The T&N Subfund of the Federal-Mogul Asbestos Trust[13] 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.[14]

For claimants whose principal exposure to asbestos was in the United Kingdom or one of several other non-US countries, a UK Asbestos Trust[15] 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.[16]

Advertising

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Ferodo is famous in Britain for advertising by having the Ferodo brand name painted on railway bridges over main roads.[17] From 1968 until 1980, Hardie-Ferodo was the naming rights sponsor of the Bathurst 1000 in Australia. [18]

References

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  1. ^ "Chapel-en-le-Frith Parish Council official guide - also photo of Herbert Frood". Archived from the original on December 10, 2013.
  2. ^ Summary of records held in Derbyshire Archives Office
  3. ^ History of Asbestos Archived 2012-09-15 at the Wayback Machine, All About Asbestos
  4. ^ T&N companies, The T&N Asbestos Trust
  5. ^ Ferodo-Hardie Merger Railway Transportation November 1961 page 8
  6. ^ Deal to buy 40pc of Hardie-Ferodo Canberra Times 29 April 1980 page 18
  7. ^ Federal-Mogul Corp. completes T&N; buy Rubber & Plastics News 16 March 1998
  8. ^ Ferodo seeks volunteers for redundancies Buxton Advertiser 11 July 2013
  9. ^ Derby Evening Telegraph 21 November 1958 page 17
  10. ^ "Federal-Mogul Financial restructuring".
  11. ^ "Legal Update" (PDF). Archived from the original (PDF) on January 7, 2009.
  12. ^ "Business Analysis: Turner & Newall pensions crisis leaves". The Independent. December 8, 2004.
  13. ^ Federal-Mogul Asbestos Personal Injury Trust
  14. ^ "What Are You Walking On?". fmoplan.com.
  15. ^ "What is the T&N Asbestos Trustee Company?". The T&N Asbestos Trust.
  16. ^ Ferodo worker’s family compensated over asbestos death Caernarfon Herald 6 May 2010
  17. ^ Lynch, Lucy (March 19, 2017). "Why does it say FERODO on this Coventry bridge?". CoventryLive.
  18. ^ The History of Great Race Naming Rights Sponsors V8 Sleuth 19 August 2020
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