United Components Completes Sale of Its Flexible Lamps Unit.Divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). Furthers Focus on Core Business Development EVANSVILLE, Ind. -- United Components, Inc. (UCI UCI University of California, Irvine UCI Union Cycliste Internationale (International Cycling Union) UCI Unidad de Cuidados Intensivos UCI United Cinemas International (UK) ) announced today that it has completed the sale of its Flexible Lamps business unit. The sale price for the transaction was approximately $39 million, subject to post-closing adjustments. The divestiture of Flexible Lamps, a UK manufacturer of lighting systems for commercial vehicles, following the divestitures earlier this year of the company's Neapco and Pioneer business units, furthers UCI's Centers of Excellence strategy, allowing the company now to devote full focus and attention to its core automotive aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. businesses: Airtex Products (fuel systems), ASC ASC Ambulatory surgery center, see there Industries (cooling systems cooling systems for housed animals include spraying of roofs with water, evaporative pads with fans, foggers and misters; for pastured animals shelter from the sun by trees or artificial shade devices and cooling ponds are used. ), Champion Laboratories (filtration) and Wells Manufacturing (engine management). Flexible Lamps was acquired by an affiliate of Truck-Lite Co. Inc. Headquartered in Falconer, New York Falconer is a village in Chautauqua County, New York, United States. The population was 2,540 at the 2000 census. The Village of Falconer is within the Town of Ellicott. Falconer is on the eastern edge of the City of Jamestown, New York. , Truck-Lite is a major producer of lighting and mirror products for the heavy duty truck, trailer, and commercial vehicle industries. Shield Corporate Finance, the international divestiture specialists, served as financial advisor to UCI on the transaction. United Components, Inc. is among North America's largest and most diversified companies diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a servicing the vehicle replacement parts market. We supply a broad range of products to the automotive, trucking, marine, mining, construction, agricultural and industrial vehicle markets. Our customer base includes leading aftermarket companies as well as a diverse group of original equipment manufacturers. Statements in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could affect UCI's actual results. Information regarding the important factors that could cause UCI's actual results to differ materially from the forward-looking statements contained in this release can be found in United Components' reports filed with the Securities and Exchange Commission. |
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