Carlisles Cos. acquires Dayco transmission unit

CHARLOTTE, N.C. (Aug. 20)—Carlisle Cos. Inc. has completed its purchase of Mark IV Industries' Dayco Industrial Power Transmission business. Carlisle, a diversified manufacturer of products serving the construction materials, industrial and automotive components and general industrial markets, acquired the Dayco unit for about $150 million. The Dayco business, which produces and sells transmission belts and accessories, had been on the market for sale since the beginning of this year, a company spokesman said. The companies will combine to form Carlisle Power Transmission Products while continuing to utilize the Dayco tradename during the next five years, he said. The Dayco unit had sales of about $200 million and 1,300 employees, according to Carlisle. Carlisle posted sales of $1.77 billion in 2000, with an estimated $500 million of that coming from rubber products.