Walbro Corporation Completes Sale One of its Facilities
2 June 1998
Walbro Corporation Completes Sale of its Ligonier, Indiana FacilityCASS CITY, Mich., June 1 -- Walbro Corporation has announced completion of the sale of its steel fuel rail manufacturing facility in Ligonier, Indiana, to a Michigan-based investment group. The sale was announced by Frank E. Bauchiero, President and Chief Executive Officer, Walbro Corporation. Terms of the sale were not disclosed. "In the fourth quarter of 1997, Walbro announced a restructuring plan designed to allow the Company to better focus on its core activities, eliminate under-performing operations, lower its cost structure and enhance shareholder value. The sale of the Ligonier steel fuel rail facility is part of that restructuring," Bauchiero said. "Walbro will continue to manufacture plastic fuel rails at its facility in Meriden, Connecticut," he added. Walbro Corporation is a designer and manufacturer of precision fuel systems and products for automotive and small engine markets. Walbro Corporation has subsidiaries and joint ventures throughout the world, including North and South America, Europe and Asia. Walbro common stock is traded on the Nasdaq National Market under the symbol WALB