Alamo Group Inc. Acquires the Assets of Faucheux.Business Editors SEGUIN, Texas--(BUSINESS WIRE)--Oct. 1, 2002 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 Inc. (NYSE NYSE See: New York Stock Exchange :ALG ALG antilymphocyte globulin. ALG antilymphocyte globulin. ALG Antilymphocyte globulin, see there ) is pleased to announce that its wholly owned European subsidiary, 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. ) Limited has entered into an agreement to acquire substantially all of the assets of Faucheux Industries SA, a leading French manufacturer of front-end loaders and attachments. Faucheux is located in Chartres, France and was founded in 1907. They have annual revenue of approximately EUR 15 million (approx. $15 million) with 92 employees. Historically the majority of their sales have been in France. Ron Robinson Ron Robinson (born March 24, 1962 in Exeter, California) was a Major League Baseball right-handed pitcher for the Cincinnati Reds (1984-1990) and the Milwaukee Brewers (1990-1992). He was the first-round pick (19th overall) of the Reds in the 1980 amateur draft. , President and Chief Executive Officer, commented, "We are excited about prospects to expand Faucheux market coverage to other countries, particularly the UK, using Alamo's existing distribution network. We also feel there are opportunities to increase sales of certain other Alamo Group products in France through Faucheux." Geoffrey Davies
Geoffrey Davies (born December 15 1942 in Leeds, Yorkshire), is an English actor who studied at the Royal Academy of Dramatic Arts. , Alamo Group (EUR) Managing Director, commented, "Faucheux machines have an excellent reputation and this is a significant and logical acquisition for Alamo Group Europe." Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for right-of-way maintenance and agriculture. Our products include tractor and truck mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements front-end loaders, backhoe and related after market parts and services. The Company, founded in 1969, has over 1,600 employees and operates thirteen plants in North America and Europe as of June 2002. The corporate offices of Alamo Group Inc. are located in Seguin, Texas and the headquarters for the Company's European operations are located in Salford Priors, England. This release contains forward-looking statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: market demand, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company's SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date. |
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