CLARK EQUIPMENT RETAINS FIRST BOSTON TO EXPLORE POSSIBLE FORKLIFT TRUCK SALE
CLARK EQUIPMENT RETAINS FIRST BOSTON
TO EXPLORE POSSIBLE FORKLIFT TRUCK SALE
SOUTH BEND, Ind., Nov. 4 /PRNewswire/ -- Clark Equipment Co. today announced that it has retained the First Boston Corp. to assist it in exploring strategic alternatives, including a possible sale, for its worldwide forklift truck business. The announcement was made by Leo J. McKernan, Clark Equipment Co. chairman, president and chief executive officer.
In making the announcement, McKernan said, "We are just beginning the process and expect it to continue over the next several months. We expect the successful completion of any transaction to accelerate growth opportunities as well as strengthen the market position and improve the profitability of Clark Material Handling Co. and its dealer network."
In 1990, Clark Material Handling Co. sales were approximately $630 million. The business unit, which is headquartered in Lexington, Ky., has major manufacturing operations in the United States and Germany.
Clark Equipment Co.'s business is the design, manufacture and sale of forklift trucks, skid-steer loaders, construction machinery, transmissions for on-highway vehicles, and axles and transmissions for off-highway equipment.
/CONTACT: Joseph Fimbianti of Clark Equipment, 219-239-0176/
(CKL) CO: Clark Equipment Co. ST: Indiana IN: MAC SU: TNM KD -- NY083 -- 0914 11/04/91 16:47 EST