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Article: Carlisle Companies Sells European Power Transmission to Megadyne.
- Article from:
- Business Wire
- Article date:
- January 9, 2003
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Business Editors
CHARLOTTE, N.C.--(BUSINESS WIRE)--Jan. 9, 2003
Carlisle Companies Incorporated (NYSE:CSL) sold its European power transmission belt business to Megadyne, a manufacturer of polyurethane transmission belts located in Mathi, Italy.
The business had been part of the Dayco Power Transmission business acquired by Carlisle in August 2001. Total 2002 revenue for the divested business was $34.9 million.
Rick McKinnish, Carlisle's President and CEO commented, "The divestiture of this breakeven business is consistent with our strategy of focusing on businesses that have or can achieve competitive advantage in addition to a ...