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Article: Oshkosh Truck Buys Pierce Manufacturing; Both of Wisconsin.(Originated from Milwaukee Journal Sentinel)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 9, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. 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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Aug. 9--Oshkosh Truck Corp. announced the purchase Thursday of Appleton-based Pierce Manufacturing Inc. for $158 million, a move that will expand Oshkosh Truck's line of firefighting equipment into a major business segment.
The acquisition, the largest in Oshkosh Truck's history, also marks a major step toward diversifying the company's business into non-military equipment, said spokesman Charles L. Szews.
Heavy-duty trucks manufactured for the Department of Defense contribute about 60 percent of Oshkosh Truck's $439 million in revenue, Szews said. Once the Pierce acquisition closes in September, that share will drop to about 45 percent, he said.
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