Business Services Industry

Carlisle Companies Acquires Assets of Meiyan Tire Group in China

Business Wire, Dec 18, 2006

CHARLOTTE, N.C. -- Carlisle Companies Incorporated (NYSE:CSL) announced today that it has signed a definitive agreement to acquire the assets of Meiyan Tire Group in Meizhou, Guangdong, China. This acquisition will become part of Carlisle Tire & Wheel Company, Carlisle Company's manufacturer of specialty tires and wheels. The acquisition is subject to local regulatory approvals and customary closing conditions and is expected to close before March 31, 2007.

Richmond McKinnish, Carlisle's President and CEO, commented, "We are excited about this strategic addition to Carlisle's manufacturing capabilities in China. This acquisition enables Carlisle Tire & Wheel to internalize production of their current lines of bias and steel-belted radial trailer tires. Additionally, it will provide enhanced manufacturing capabilities for larger tires for the agricultural and construction markets, a key growth platform for our Industrial Components segment."

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global economic, business, competitive, market and regulatory factors. More detailed information about these factors is contained in the Company's filings with the Securities and Exchange Commission. The Company undertakes no duty to update forward-looking statements.

Carlisle is a diversified global manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, heavy-haul truck trailer, foodservice, and data transmission industries.

COPYRIGHT 2006 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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