Carlisle Companies Sold Its European Power
Transmission Business.
Autoparts Report • Jan 17, 2003 • Megadyne acquires power transmission belt
business
Carlisle Companies Inc., based in Charlotte, NC, said it sold its
European power transmission belt business to Megadyne, a manufacturer of
polyurethane transmission belts located in Mathi, Italy. The business
had been part of the Dayco Power Transmission business acquired by
Carlisle in August 2001, the company said. Total 2002 revenue for the
divested business was $34.9 million.
Rick McKinnish, Carlisle's President and CEO commented,
"The divestiture of this breakeven business is consistent with our
strategy of focusing on businesses that have or can achieve competitive
advantage in addition to a leadership position in their markets.
Carlisle's North American power transmission belt business,
Carlisle Power Transmission, continues to be an integral member of
Carlisle's portfolio, well-positioned for market leadership, growth
and positive cash flow." Terms of the transaction were not
disclosed.
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