CLARK EQUIPMENT COMPLETES MATERIAL HANDLING UNIT SALE
CLARK EQUIPMENT COMPLETES MATERIAL HANDLING UNIT SALE SOUTH BEND, Ind., Aug. 3 /PRNewswire/ -- Clark Equipment Co.
(NYSE: CKL) today announced that it has completed the sale of Clark Material Handling Co., its forklift truck business, to Terex Corp. (NYSE: TEX) for approximately $90 million. The announcement was made by Leo J. McKernan, Clark Equipment chairman, president and chief executive officer, who stated that Clark's third-quarter results would include a gain on the sale.
In making the announcement, McKernan said, "We're particularly pleased that this business's new owner, Terex Corp., is a company that understands and values a strong employee and dealer organization." Clark Equipment Company's business is the design, manufacture and sale of skid-steer loaders, construction machinery, transmissions for on-highway vehicles, and axles and transmissions for off-highway equipment. -0- 8/3/92 R /CONTACT: Joseph Fimbianti of Clark Equipment, 219-239-0176/ (CKL TEX) CO: Clark Equipment Co.; Terex Corp.; Clark Material Handling Co. ST: Indiana IN: CST AUT SU: TNM 171 08-03-92 10:07 EDT SM -- DE005 -- 6407 08/03/92 19:10 EDT
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|Date:||Aug 3, 1992|
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