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Article: Stewart & Stevenson LLC Completes Asset Purchase; Names Hushang Ansary as Chairman, John B. Simmons as President & CEO.
- Article from:
- PR Newswire
- Article date:
- January 26, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Jan. 25 /PRNewswire/ -- Stewart & Stevenson LLC announced today that it has finalized the previously announced transactions for the purchase of substantially all of the assets of Stewart & Stevenson Services Inc., excluding its Tactical Vehicles Division and other discontinued businesses, to prominent Houston oil entrepreneur and philanthropist, Hushang Ansary.
The purchase, which includes the use in perpetuity of the Stewart & Stevenson brand name representing a history of over 100 years, provides Stewart & Stevenson LLC with 47 offices and facilities in the United States and abroad and revenues for the year 2006 of approximately $750 million.
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