Federal Signal Corporation Completes Sale of Industrial Cutting Tool Businesses
OAK BROOK, Ill., Jan. 31 -- Federal Signal Corporation (NYSE:FSS) announced today that it completed the sale of its industrial cutting tool businesses to Kennametal Inc. The businesses sold include Manchester Tool Company, On Time Machining Company and Clapp Dico Corporation.
"The sale of the industrial cutting tool businesses will enable us to strengthen our core integrated solutions that enhance security and well-being for communities and workplaces," said Robert D. Welding, president and chief executive officer of Federal Signal Corporation. "Thanks to all of the cutting tool employees who have worked to build these businesses. We wish them the best as they join an organization focused on industrial tooling."
As previously announced, Federal Signal will continue to operate its industrial die and mold tooling businesses, Dayton Progress Corporation and PCS Company.
About Federal Signal Corporation
Federal Signal Corporation (NYSE:FSS) is a leader in advancing security and well-being for communities and workplaces around the world. The company designs and manufactures a suite of products and integrated solutions for municipal, governmental, industrial and airport customers. Federal Signal's portfolio of trusted, high-priority products include Bronto aerial devices, Elgin and Ravo street sweepers, E-ONE fire apparatus, Federal Signal safety and security systems, Guzzler industrial vacuums, Jetstream waterblasters and Vactor sewer cleaners. In addition, the company operates consumable industrial tooling businesses. Federal Signal was founded in 1901 and is based in Oak Brook, Illinois. http://www.federalsignal.com/
First Call Analyst:
FCMN Contact:
Source: Federal Signal Corporation
CONTACT: Investors, Dave Janek, +1-630-954-2000, or Media, John Segvich,
+1-630-954-2000, both of Federal Signal Corporation
Web site: http://www.federalsignal.com/
