Carlisle acquires stake in Japan Power Brake
Carlisle buys rest of stake in Japan Power Brake from joint venture partner
- On 12:08 pm EDT, Thursday October 1, 2009
CHARLOTTE, N.C. (AP) -- Carlisle Cos., which makes truck brakes, tires, wheels and construction and roofing materials, said Thursday that it has acquired the remaining interest in Japan Power Brake Inc. from its joint venture partner.
Japan Power Brake, which posts annual sales of about $10 million, provides high performance braking solutions for off-highway equipment, mainly in the mining and construction industries in Japan.
The company's products include dry disc brake assemblies, hydraulic components and associated friction parts sold mainly to heavy duty construction equipment manufacturers. The company also has a significant aftermarket customer base.
Carlisle Industrial Brake & Friction, a unit of Carlisle, and Yokohama Rubber Co. had jointly owned Japan Power Brake since 1989.
Carlisle shares fell 39 cents to $33.52 in morning trading Thursday.
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