04-07-2008, 08:51 PM #1
- Join Date
- Jun 2006
- Chicago Area
Federal Signal Sells Off Division
Federal Signal sells Dayton Progress subsidiary
Published: Friday, April 4, 2008 at 11:58 a.m.
Last Modified: Friday, April 4, 2008 at 12:00 p.m.
OCALA - Federal Signal Corp., the parent company of Ocala fire truck manufacturer E-One, has sold a division.
Federal Signal announced the sale Friday of its Dayton Progress subsidiary to Boston-based Connell Limited Partnership.
Dayton Progress, the last remaining part of Federal Signal's Tool Group, makes metal stamping and forming tools. The company sold other divisions of the group last year. The tool group has struggled financially for several years.
Federal Signal, according to a company press release, expects to receive $60 million for the company, taking a loss on the transaction.
Dayton Progress, based in West Carrollton, Ohio, has approximately 850 employees worldwide.
Federal Signal also reported in February that it is seeking buyers for E-One. Federal Signal, based in Oak Brook, Ill., has owned E-One since 1979.
- Rick Cundiff
Okay - Maybe not what you thought it might be. But I hear the word is on the way!
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