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Article: Fruehauf Corporation's aerospace operations sold to Grabill Aerospace Industries, Ltd.
- Article from:
- PR Newswire
- Article date:
- August 6, 1987
CopyrightCOPYRIGHT 1987 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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FRUEHAUF CORPORATION'S AEROSPACE OPERATIONS
SOLD TO GRABILL AEROSPACE INDUSTRIES, LTD.
DETROIT, Aug. 6 /PRNewswire/ -- Fruehauf Corporation (NYSE: FTR) today announced that it has completed the sale to Grabill Aerospace Industries, Ltd., of four of its five aerospace companies for approximately $157 million. These were Heintz Corporation, Utica Corporation, Compositek Holdings, Inc., and SPECO Corporation, which comprised almost all of the aerospace operations of Fruehauf's wholly owned subsidiary, Kelsey-Hayes Company. The proceeds of the sale will be used to pay off Fruehauf's bank term loan and reduce its long-term bank revolving ...