Federal Signal Completes Sale of E-ONE

Aug. 5, 2008

OAK BROOK, Ill. , Aug. 5 /PRNewswire-FirstCall/ -- Federal Signal Corporation (NYSE: FSS), a leader in advancing security and well-being, today announced that it has completed the sale of E-ONE, a manufacturer of fire apparatus located in Ocala, Florida to American Industrial Partners for approximately $20 million, subject to normal working capital adjustments. The Company also completed the sale of an additional $18 million tranche of leases to Banc of America Public Capital Corp. Proceeds from these transactions will be used to pay down debt.

Jim Goodwin , interim president and CEO stated, "On behalf of Federal Signal's Board of Directors, I would like to thank the dedicated E-ONE employees for their many years of loyal service. I am confident that American Industrial Partners will be a valuable partner to E-ONE and will build upon the important progress made by Peter Guile and his team to improve the financial and operational performance of the business. We look forward to continuing to work with E-ONE as a supplier of lights and sirens, articulated aerial devices and other products."

About Federal Signal

Federal Signal Corporation (NYSE: FSS) enhances the safety, security and well-being of communities and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and institutional customers. Headquartered in Oak Brook, Ill. , with manufacturing facilities worldwide, the Company operates three groups: Safety and Security Systems, Environmental Solutions and Fire Rescue. For more information on Federal Signal, visit: http://www.federalsignal.com.

SOURCE Federal Signal Corporation



Copyright © 2008 PR Newswire Association LLC. All Rights Reserved.

Sponsored Recommendations

EPS releases new switch erasure update with power automation

The feature is designed to dramatically improve the simplicity and productivity of erasing network devices.

What Missouri courts learned from a cyber attack

The ordeal highlighted both opportunities to improve as well as strengths that helped stop the incident from becoming a full-blown crisis.

Dallas ransomware: Hackers used stolen credentials to access city data, report says

Hackers used stolen online credentials to get into the city of Dallas’ system and steal files during a cyberattack earlier this year, according to a city internal review of the...

Pros & Cons: Bleeding Edge Security Tech

A closer look at the benefits and risks as integrators turn to newer, largely unproven technologies to improve margins