MILWAUKEE, Jan. 11-- A.O. Smith Corporation (NYSE: AOS, Amex: SMCA) closed on the sale of its Engineered Storage Products Company to CST Industries, Inc. of Kansas City, Kan. A definitive agreement on the sale of the business was announced on December 18, 2000.
Engineered Storage Products Company, with headquarters in DeKalb, Ill., manufactures shop-welded, bolted, and SealWeld storage tanks for municipal, industrial, and agricultural applications worldwide. The company has plants in Winchester, Tenn., and Parsons, Kan., in addition to its facilities in DeKalb and employs approximately 450 people.
CST Industries is a manufacturer of epoxy-coated bolted storage tanks for liquid and bulk dry applications.
The close of this sale concludes A.O. Smith's divestiture of its Storage & Fluid Handling Technologies platform. In December, the company sold its Smith Fiberglass Products unit to Varco International of Houston, Texas.
A.O. Smith Corporation is a diversified manufacturer with headquarters in Milwaukee, Wis. Its major product lines include fractional horsepower, hermetic, and integral horsepower electric motors, residential and commercial water heating equipment, and hydronic boilers. The company has plants in eight countries and employs approximately 15,000 people. SOURCE A.O. Smith Corporation
CONTACT: Media, Edward O'Connor, 414-359-4100, or Analyst, Investor Inquiries, Craig Watson, 414-359-4009, both of A.O. Smith Corporation/