Printer Friendly

WHITE CONSOLIDATED EVALUATES STRATEGIC ALTERNATIVES FOR SUBSIDIARY

 STOCKHOLM, Sweden, Dec. 7 /PRNewswire/ -- White Consolidated Industries, a subsidiary of AB Electrolux of Sweden, announced today that it is exploring strategic alternatives with regard to its Blaw-Knox Construction Equipment Corporation subsidiary. This review a?lternatives is p ar of AB Electrolux's strategy to streamline the Group's structure. Blaw-Knox Construction Equipment Corporation, based in Mattoon, Ill., is the nation's leading manufacturer of asphalt paving machinery. Blaw-Knox has the most widely recognized name in asphalt pavers in the U.S. and internationally, and enjoys the finest and strongest dealer network in the nation. The Company also has significant European operations based in Rochester, U.K. Annual sales in 1993 are expected to be more than US$80 million, and the Company employs about 700 people.
 White Consolidated has retained Lehman Brothers, the New York-based investment bank, to advise them on alternatives. Options being considered with regard to Blaw-Knox include the possible sale of the entire company.
 -0- 12/7/93
 /CONTACT: Wayne D. Schierbaum, SVP - finance, controller, +1-216-252-8234, or Daniel R. Elliott Jr., SVP general counsel and secretary, +1-216-252-8385, both of White Consolidated Industries/


CO: White Consolidated Industries; AB Electrolux; Blaw-Knox
 Construction Equipment Corporation ST: Illinois IN: CST HOU SU:


LG-MP -- NY021 -- 1205 12/07/93 10:32 EST
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:Dec 7, 1993
Words:208
Previous Article:SPI PHARMACEUTICALS DECLARES 6 PERCENT INCREASE IN QUARTERLY COMMON STOCK DIVIDEND
Next Article:GENEVA STEEL REPORTS QUARTERLY RESULTS
Topics:

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