-

First Brands Issues Statement Regarding Indictment of Former Executives

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--First Brands Group, LLC ("First Brands" or the "Company") today issued a statement regarding the indictment of former First Brands Chief Executive Officer Patrick James and former Senior Vice President Edward James by the United States Department of Justice, as well as the guilty plea of former Vice President of Finance Peter Andrew Brumbergs.

The full statement can be found below:

“The criminal charges relate to alleged historical actions by certain former executives who are no longer with First Brands Group or involved in the management, governance, or day-to-day operations of the Company. While these matters concern past conduct, their impact is being felt now by thousands of people.

This is a tragic situation that has disrupted the lives of employees, families, and communities who depend on this business. We recognize the very real human toll of these events and the uncertainty many are facing.

The Special Committee of the Board of Managers continues to conduct an independent review of historical business practices, and the Company intends to continue pursuing all available claims and causes of action against Patrick James, Edward James, and others to maximize value for the estate. First Brands Group is fully cooperating with law enforcement and remains focused on advancing its ongoing sale process during this time.”

About First Brands Group
First Brands Group™ is a global automotive parts company that develops, markets and sells premium products through a portfolio of market-leading brands including: Raybestos® complete brake solutions, Centric Parts® replacement brake components, StopTech® performance brakes, FRAM® filtration products, Luber-finer® filtration products, TRICO® wiper blades, ANCO® wiper blades, Michelin® licensed wiper blades, Carter® fuel and water pumps, Autolite® spark plugs, StrongArm® lift supports, Carlson® brake hardware, CARDONE® new and remanufactured replacement parts, and our towing & trailering portfolio composed of REESE®, DRAWTITE®, BULLDOG®, TEKONSHA®, FULTON®, Westfalia® along with Hopkins® universal owned and licensed brands and Philips® licensed aftermarket lighting. The First Brands Group™ portfolio of world-class brands offers best-in-class technology, industry-leading engineering capabilities and superior customer service.

Contacts

firstbrands@thecstreet.com

Industry:

First Brands Group, LLC

Release Versions
English

Contacts

firstbrands@thecstreet.com

More News From First Brands Group, LLC

First Brands Group Commences Wind Down of North American Brake Parts Inc., Cardone, and Autolite Business Units

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--First Brands Group, LLC (“First Brands” or the “Company”), a leading global supplier of automotive parts, announced that it has commenced a wind down of certain of its North American business operations, including its Brake Parts Inc., Cardone, and Autolite brands. First Brands’ remaining business units continue to operate while the Company assesses pathways to transition these operations to new ownership. “Over the past several months, we explored all a...

First Brands Group Announces Launch of Marketing and Sale Process to Secure Long-Term Future for Brands and Global Platform

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--First Brands Group, LLC (“First Brands” or the “Company”), a leading global supplier of aftermarket automotive parts, today announced the launch of a sale process to market and sell its business, as a whole or in parts, to maximize stakeholder value. The sale process is intended to accelerate the transition to new ownership, the Company’s emergence from these chapter 11 cases, and the next phase for First Brand’s market-leading portfolio of brands and bu...

First Brands Advances Business Stabilization Initiatives and Long-Term Paths to Create Value and Drive Growth

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--First Brands Group, LLC (“First Brands” or the “Company”), a leading global supplier of aftermarket automotive parts, announced today a series of decisive steps the Company has taken to stabilize its operations, strengthen leadership, and maintain continuity of supply and service for customers, including: Driving momentum across customer channels, with ordering patterns trending above 90% of pre-petition levels and new business opportunities with over 50...
Back to Newsroom