House & Home
Fri, October 8, 2010Thu, October 7, 2010Wed, October 6, 2010Tue, October 5, 2010Mon, October 4, 2010Sun, October 3, 2010Sat, October 2, 2010Fri, October 1, 2010Thu, September 30, 2010Wed, September 29, 2010Tue, September 28, 2010Carlisle Companies Announces Sale of Trail King
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Published in House and Home on Tuesday, October 5th 2010 at 7:01 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
CHARLOTTE, N.C.--([ 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, aWe 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.a
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.