Oshkosh Truck to buy Iowa Mold Tooling
Oshkosh Truck Corp. has signed an agreement with Iowa Mold Tooling Co. Inc. (IMT) to acquire the service truck manufacturer.
IMT is expected to operate as a subsidiary of Oshkosh Truck's commercial unit.
"This is a great opportunity all-around for IMT," says IMT President Steve Fairbanks.
"Oshkosh’s acquisition strategy states that they acquire market leaders, and we are honored that we are seen in that light by a company as prestigious as Oshkosh.
"We look forward to learning from and sharing best practices with the portfolio of market-leading Oshkosh companies."
Oshkosh Truck is a leading manufacturer of specialty commercial, fire, emergency and military trucks, in addition to truck bodies.
It employs more than 8,000 people worldwide and recorded sales of nearly $3 billion in 2005.
IMT is a portfolio company of American Capital Strategies Ltd.