Carlisle Companies Enters into Licensing Arrangement with CRAGAR Industries, Inc.SYRACUSE, NY--(BUSINESS WIRE)--Oct. 18, 1999-- Carlisle 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 its wholly-owned subsidiary, Carlisle Tire & Wheel Company, signed a definitive agreement with CRAGAR Industries, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : CRGR) of Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. , to acquire CRAGAR's specialty steel-based wheel assets and an exclusive license to produce, market and sell CRAGAR brand custom steel wheels. CRAGAR has a long history and widely recognized name in the wheel industry. Terms of the transaction were not disclosed. Barry Littrell, Executive Vice President of Carlisle Tire & Wheel Company stated "CRAGAR's strong brand awareness and reputation for quality products and Carlisle's leading position in the market for automotive aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. wheels is a winning combination. This acquisition will significantly broaden Carlisle's capabilities and allow us to better serve our customers with the industry's widest range of specialty wheels. We are very pleased to have CRAGAR join us as we continue to grow our business." Carlisle is a diversified manufacturer of products serving four major markets: construction materials, automotive components, industrial components and general industry. |
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