ALAMO GROUP INC. ANNOUNCES THE PURCHASE OF ASSETS OF AN IMPORTER OF CHINESE TRACTORS.SEGUIN, Texas--(BUSINESS WIRE)-- May 16, 1995--Alamo Group Inc. (Nasdaq:ALMO) announced today that it has completed the acquisition of substantially all of the assets and assumption of certain liabilities of Rhino International, Inc., an unrelated Woodland, Washington Woodland is a city in Cowlitz County, Washington, although some of the city spills over to neighbouring Clark County. Most residents live within Cowlitz County. It is part of the 'Longview, Washington Metropolitan Statistical Area'. The population was 3,780 at the 2000 census. based importer of diesel tractors made in the Peoples Republic of China. Terms of the transaction were not disclosed. Rhino International had 1994 annual sales of approximately $6.5 million. Alamo Alamo Eighteenth-century mission in San Antonio, Texas, site of a historic siege of a small group of Texans by a Mexican army (1836) during the Texas war for independence from Mexico. Group will distribute the tractors through the current distribution system and its own Rhino dealer network. Most of the tractors sold by Rhino International are compact, under 40 hp, and are used in grounds maintenance and "hobby farming" applications. The Chinese tractors are simple to operate and maintain, substantially less expensive than most other similar- size tractors imported into the USA, and are complementary to Alamo's other products. In addition to compact tractors, Rhino International also distributes a range of larger tractors up to 90 horsepower and other implements. Alamo Group is a leading designer, manufacturer and marketer of heavy- duty, tractor-mounted mowing and growth maintenance equipment. Founded in 1969, Alamo Group serves agricultural, governmental and commercial markets and has leading market shares in the U.S. and Europe. The Company has 791 employees in the U.S., 298 in the U.K. and 50 in France, and operates nine manufacturing facilities. The corporate offices of Alamo Group (USA) are located in Seguin, Texas Seguin (pronounced IPA: /səˈgiːn/) is a city in Guadalupe County, Texas, in the United States. As of the 2000 census, the city population was 22,011. , near San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. . The headquarters of Alamo Group (EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) is in Salford Priors Salford Priors is a rural, agricultural village and civil parish about six miles south west of Alcester, Warwickshire, UK. It is found on the Warwickshire border with Worcestershire. , England, near Birmingham. CONTACT: Alamo Group Inc. Todd Binet Treasurer 210/372-9504 or June Filingeri/Robert Weiner Stan Froelich - Media Relations Morgen-Walke Associates 212/850-5600 |
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