Carlisle Companies Announces Sale of Trail King
October 05 2010 - 8:30AM
Business Wire
Carlisle Companies Incorporated (NYSE:CSL) announced today that
it has sold Trail King Industries, Inc., its specialty trailer
business. Carlisle expects to record a gain on the sale of Trail
King which had $69 million in year-to-date sales through the third
quarter of 2010. Reporting of operating results for the specialty
trailer business will be reported in Discontinued Operations
effective with the quarter ended September 30, 2010.
David A. Roberts, Chairman, President and Chief Executive
Officer, said, “We are pleased to have concluded the sale of this
non-core business with the resulting gain and sale proceeds. While
Trail King was experiencing sales growth and earnings improvement
in 2010 over the prior year period, its end market and business
cycle was not suited to our growth platform. This divestiture
enables Carlisle management to more fully focus on growing our core
businesses and on allocating capital where it will generate the
greatest return for our shareholders.”
Carlisle is a diversified global manufacturing company
serving the construction materials, commercial roofing, specialty
tire and wheel, power transmission, heavy-duty brake and friction,
foodservice, aerospace, and test and measurement
industries.
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