Printer Friendly

QUAKER STATE ELECTS TO RETAIN TRUCK-LITE SUBSIDIARY

 OIL CITY, Pa., May 7 /PRNewswire/ -- Quaker State Corporation (NYSE: KSF) has withdrawn its previously announced offer to sell its subsidiary, Truck-Lite Company, Inc., a leading producer of safety and interior lights for trucks and automobiles.
 The decision was made based on a revised view of Truck-Lite's prospects and the positive results that it reported in the first quarter. During that period Truck-Lite had operating profits of $1.7 million on sales of $20.9 million. This compares to a loss of $1.3 million in the first quarter of 1992 and sales of $14.5 million. Quaker State management concluded that the value of the company was not fully reflected in the offers received.
 Truck-Lite Company, Inc., is headquartered in Falconer, N.Y., and also has a plant near Lock Haven, PA. It is a leading producer of custom designed safety and interior lights for passenger cars; sealed and bulb-replaceable stop, turn and indicator lights for trucks and trailers; and sealed wiring harnesses for heavy duty truck trailers.
 Quaker State is principally a producer of branded motor oil and lubricants and a marketer of products and services in the automotive aftermarket. Other subsidiaries provide fast lube services, produce oil and natural gas, and market specialized insurance policies primarily through auto dealers.
 -0- 5/7/93
 /CONTACT: Benton H. Faulkner of Quaker State, 814-676-7877/
 (KSF)


CO: Quaker State Corporation; Truck-Lite Company ST: Pennsylvania, New York IN: OIL AUT SU:

KC -- PG012 -- 6088 05/07/93 15:57 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 7, 1993
Words:248
Previous Article:PPG REPORTS ON LABOR NEGOTIATIONS
Next Article:EIGHT VOLUNTEERS RECEIVE JCPENNEY GOLDEN RULE AWARDS
Topics:


Related Articles
QUAKER STATE AND GE CAPITAL SIGN AGREEMENT ON ACQUISITION OF HERITAGE INSURANCE GROUP
QUAKER STATE DOUBLES SIZE OF LUBRICANTS BUSINESS WITH ACQUISITION OF SPECIALTY OIL
QUAKER STATE TO ACQUIRE SLICK 50
QUAKER STATE COMPLETES SLICK 50 ACQUISITION
QUAKER STATE TO ACQUIRE QUAKER SUPREME CHEMICAL CORPORATION
QUAKER STATE CONCLUDES AQUISITION OF BLUE CORAL
Quaker State Corporation Acquires Fast Lube Chain
Pennzoil-Quaker State Company Reaches Definitive Agreement to Sell Rouseville Refinery, Bareco Partnership and Related Assets.
Pennzoil-Quaker State Company Announces Completion of Three International Expansion Initiatives.
Pennzoil-Quaker State Company Reaches Definitive Agreement to Sell Viscosity Oil.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters