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Collins Expands into Road Construction Equipment Market

5 September 2000

Collins Industries Expands into Road Construction Equipment Market with Acquisition of Waldon

    HUTCHINSON, Kan., Sept. 5 Collins Industries, Inc.
announced today a definitive agreement to purchase certain
assets of Waldon, Inc., a leading manufacturer of industrial and construction
equipment based in Fairview, Oklahoma, with $16.5 million in sales last year.
The Company expects the cash acquisition to be accretive to earnings and
anticipates that it will be finalized by the end of this month.  The price of
the acquisition was not disclosed.
        "The acquisition of these Waldon product lines provides our specialty
vehicle company an entry into the road construction market, with products in
market niches for contractors and equipment rental dealers that historically
have not been large enough to attract large capital intensive competitors.  It
also provides us the ability to take advantage of ongoing market growth from
national highway infrastructure projects through TEA-21, the Transportation
Equity Act for the 21st Century which will inject billions of tax dollars into
road construction in the years ahead," said Donald Lynn Collins, President and
CEO of Collins Industries.
    "The Waldon acquisition enhances our commitment to be the nation's leading
manufacturer of specialty vehicles, underscoring our goal of building long-
term shareholder value.  This acquisition will provide synergies in
purchasing, distribution and management while providing Collins Industries new
growth opportunities in the road construction and industrial equipment rental
markets.  Waldon has been in business for over 43 years, building a reputation
for quality, durability and innovation in the markets they serve.  We look
forward to making them a part of the Collins Industries family," he added.