FEDERAL SIGNAL CORP. ANNOUNCES THE ACQUISITION OF SUPERIOR EMERGENCY EQUIPMENT, LTD.
FEDERAL SIGNAL CORP. ANNOUNCES THE ACQUISITION
OF SUPERIOR EMERGENCY EQUIPMENT, LTD.
OAK BROOK, Ill., Dec. 18 /PRNewswire/ -- Joseph J. Ross, chairman of Federal Signal Corp. (NYSE: FSS), announced the acquisition by Emergency One, Inc., a Federal subsidiary, of the business of Superior Emergency Equipment, Ltd., of Red Deer, Alberta, Canada.
Superior manufactures a full range of fire truck bodies primarily for the Canadian market. Annual sales for Superior are approximately U.S.$17 million. Current management will continue to operate the company which employs about 60 people.
In announcing the purchase, Ross stated, "While Emergency One has had some success exporting product to Canada, we believe a certain closeness to the customer is necessary to effectively address this market. The acquisition of Superior provides Emergency One with the manufacturing and distribution resources required to capitalize on this market's growth opportunities. There are also considerable synergies to be gained by a close working relationship between Superior and Emergency One."
In recent years, Emergency One, the world's leading manufacturer of fire apparatus, has grown significantly through the introduction of innovative state-of-the-art fire fighting apparatus for municipal and commercial users. In addition, in 1988 the company was awarded a multi-year $47 million contract to build the body and fire fighting apparatus for airport rescue and fire fighting vehicles (ARFF) for the U.S. Air Force.
Federal Signal Corp., is a manufacturer and worldwide supplier of public safety, signaling and communications equipment (Signal Products), fire trucks (Emergency One and Superior) and street sweeping vehicles (Elgin Sweeper and Ravo International), parking control equipment (Federal APD), custom on-premise signage (Federal Sign), carbide cutting tools (Manchester Tool and Bassett Rotary Tool), precision punches and related die components (Dayton Progress, Jamestown Perforators and Container Tooling).
/CONTACT: Joseph J. Ross of Federal Signal, 708-954-2000/
(FSS) CO: Federal Signal Corp.; Superior Emergency Equipment Ltd. ST: Illinois IN: TRN SU: TNM SM -- NY031 -- 3385 12/18/91 11:33 EST