Federal Signal To Sell Refuse Truck Body Business
Federal Signal Corp. and Canadian manufacturer Labrie Equipment Ltd. have entered into a non-binding letter of intent for Labrie to acquire substantially all of the assets of Federal Signal's refuse truck body business. On February 21, 2006, Federal Signal announced plans to exit this business. Labrie Equipment is a designer and manufacturer of refuse and recycling collection vehicles.
"Our conversations with Labrie are in the early stages; however, we are optimistic we will ultimately reach an agreement that satisfies both parties' requirements," said Robert D. Welding, president and chief executive officer of Federal Signal.