CHARLOTTE, N.C. (Aug. 26)—Carlisle Companies Inc. has sold most of its automotive components supply business Reserve Group of Akron for an undisclosed price.
Carlisle said it will post an aftertax loss of about $9 million on the disposition of these assets.
The deal covers injection molding, extrusion and blow molding plants in Michigan, Ohio and Alabama in the U.S., two plants in Mexico and a joint venture in England, but doesn't include the assets from two plants, a thermoforming unit in Grand Rapids, Mich., and an injection molding plant in Lake City, Pa.
Carlisle didn't comment on the status of rubber molding units in Ashtabula and Middlefield, Ohio, which were part of the automotive sector but put up for sale last year separately.
The exit from the automotive business will allow the company to focus on its core businesses, said Richmond McKinnish, Carlisle´s president and CEO.
Reserve Group owns another 10 manufacturing companies, including reaction injection molder Romeo Rim Inc. of Romeo, Mich., which makes parts for commercial trucks and agricultural equipment. It did not comment publicly on the acquisition.