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Carlisle Companies Inc. (NYSE: CSL), Charlotte, NC, has sold Trail King Industries, Inc., its specialty trailer business. Trail King had year-to-date sales of $69 million through the third quarter of 2010.
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Operating results for the specialty trailer business will be reported in Discontinued Operations effective with the quarter ended Sept. 30, 2010.
David A. Roberts, Chairman, President and Chief Executive Officer, said, "We are pleased to have concluded the sale of this non-core business with the resulting gain and sale proceeds," said David A. Roberts, Carlisle president and CEO. "While Trail King was experiencing sales growth and earnings improvement in 2010 over the prior year period, its end market and business cycle was not suited to our growth platform. This divestiture enables Carlisle management to more fully focus on growing our core businesses and on allocating capital where it will generate the greatest return for our shareholders."
Carlisle is a diversified global manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, foodservice, aerospace, and test and measurement industries.