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Carlisle Establishes Joint Venture in China

16 February 1999

Carlisle Establishes Joint Venture in China

    SYRACUSE, N.Y.--Feb. 16, 1999--Carlisle Companies Incorporated announced today that its Walker Stainless Equipment Company has established a joint venture with Shanghai No. 1 Chemical Machinery Plant in Shanghai, China. The joint venture will produce stainless steel in-plant processing equipment for food, dairy, beverage and pharmaceutical markets in China.
    John Barsanti, President of Walker Stainless Equipment Company, stated: "There is a growing demand in China for high-quality stainless steel products. Our existing base of multi-national customers generates much of this demand. We are pleased to join with Shanghai No. 1 Chemical Machinery Plant to serve this market. The joint venture will combine our manufacturing and engineering expertise with Shanghai No. 1's reputation as a reliable source of quality fabrication."
    Terms of the transaction were not disclosed.
    Carlisle is a diversified manufacturer of products serving four major markets: construction materials, industrial components, automotive components and general industry.