Thor Purchases Assets of Para-Transit Bus Builder
JACKSON CENTER, Ohio, March 2 Thor Industries, Inc.
announced today that it has purchased for cash certain assets of
Ricon Corp.'s specialty vehicles division which builds mini buses for the
mobility-impaired.
"Ricon's Activan and VersaShuttle mini buses offer easy access for the
elderly or physically challenged. We expect to achieve annual specialty
vehicle sales, including chassis, of approximately $30 million and the
acquisition is expected to be accretive to earnings. Production of these
vehicles will be moved to near our Salina, Kansas small bus operations and
represents a natural extension of our product line," said Wade F. B. Thompson,
Thor chairman.