Federal Signal announced plans to acquire Leach Co., a manufacturer of refuse trucks. Federal is located in Oak Brook, Ill. Leach is located in Oshkosh, Wis.
Terms of the sale were not disclosed, but will include all of the company’s stock and assets, including the 400,000 square foot manufacturing facility in Oshkosh. The sale will close September 30, 2002.
Frederick Leach, president and CEO of Leach, said, “The sale of the company at this time is not driven by any market conditions. In fact, the company is in a very sound financial position. The sale is strictly the result of family differences concerning ownership.”
Federal Signal Corporation is comprised of four operating segments: environmental products, fire rescue, safety products and tool components. Leach Company will be positioned within Federal Signal’s environmental products group, providing an excellent compliment to current manufacturers in the group producing other public works-related equipment. Many of the same distributors now used by Leach Company represent products in the environmental group of Federal Signal.
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