Carlisle Companies Acquires Zhejiang Kete Braking Business.CHARLOTTE, N.C. -- Carlisle Carlisle, city, England Carlisle, city (1991 pop. 72,006) and district, Cumbria, NW England, near the junction of the Caldew, Eden, and Petteril rivers. The city of Carlisle is an important rail center. Companies Incorporated (NYSE NYSE See: New York Stock Exchange :CSL (Computerese as a Second Language) Said of people who love to speak high-tech words even though they often use them erroneously. See TLA. 1. CSL - Computer Structure Language. A computer hardware description language, written in BCPL. ) announced today that it had signed a definitive agreement on July July: see month. 15, 2005, to acquire 100% of the heavy-duty brake lining and brake shoe assets of Zhejiang Kete located in Hangzhou, China for approximately $36.0 million. Kete will be under the management direction of Carlisle Motion Control which is included in the Specialty Products segment. Richmond McKinnish, Carlisle's President and Chief Executive Officer commented, "The acquisition of Kete offers a focused position in heavy-duty truck friction and shoe manufacturing in a modern facility with low labor costs. This investment will significantly enhance Carlisle Motion Control's ability to service its customers in the heavy-duty truck brake lining market." Carlisle is a diversified diversified (di·verˑ·s global manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, foodservice, data transmission, and process systems industries. |
|
|||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion