EnPro Industries Acquires Manufacturer of Braking Products for Heavy-Duty Vehicles
Resource from: EnPro Industries, Inc. Likes:3116
Jan 14,2011
CHARLOTTE, N.C., Jan. 13, 2011 /PRNewswire/ -- EnPro Industries (NYSE: NPO) has acquired the assets of Rome Tool and Die, Inc., a leading supplier of steel brake shoes to the North American heavy-duty truck market. The business will become part of the brake products group of Stemco, an EnPro Industries company. The acquisition was completed for cash; terms were not disclosed.
"Rome Tool and Die is an important and attractive addition to Stemco," said Steve Macadam, president and chief executive officer of EnPro. "The business is the leading supplier of new brake shoes to the aftermarket in the United States. Stemco, which has the best sales and product training model in the industry, will now be able to combine brake shoes with Stemco Duroline brake pads to offer a completely lined brake shoe kit that will provide important performance and safety benefits to fleet operators."
Brake shoes are the third product line added by Stemco to its brake products group since the third quarter of 2009. Friction products were added through a North American distribution agreement with Duroline, a Brazilian brake linings manufacturer, and automatic brake adjusters were added through the Stemco Crewson joint venture. With the addition of brake products and suspension system components, which were added through the acquisition of Kaiser Engineering in 2008, Stemco expects more than 35% of its 2011 sales to come from products not offered at the end of 2007.
Rome Tool and Die's headquarters and manufacturing facility are located in Rome, Georgia, where the business employs approximately 110 people.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
(EnPro Industries, Inc.)
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