Carlisle to Acquire Segment Leading Trailer Manufacturer

21 June 2000

Carlisle to Acquire Segment Leading Trailer Manufacturer

    SYRACUSE, N.Y. - Carlisle Companies Incorporated announced today that its wholly-owned subsidiary, Trail King Industries, signed a letter of intent to acquire Red River Manufacturing, Inc., a privately-held manufacturer of custom trailers and related paving apparatus for highway construction and trailers for other hauling industries. Red River Manufacturing is recognized as the industry leader in "live bottom" trailers with products highly regarded for their reliability, durability and low maintenance costs. Red River's manufacturing facility is located in West Fargo, North Dakota, where the company has 130 employees. Trail King Industries manufactures trailers for the construction, dump and commercial markets.

    Jerry Thomsen, President of Trail King Industries, stated "Red River's product line will expand and complement our present offering of material hauling trailers. As a result of the "TEA-21" Transportation Bill, Federal highway construction and maintenance expenditures will increase significantly over the next five years. The addition of Red River, a specialist in trailers and related paving equipment for highway construction and repair, will allow Trail King to capitalize on this favorable market trend."

    Terms of the transaction were not disclosed. A closing of the transaction is subject to execution of a definitive agreement and receipt of all necessary approvals.

    Carlisle is a diversified manufacturer of products serving construction materials, industrial components, automotive components and general industry markets.