Specialty vehicle maker Thor Industries is selling substantially all of the assets of its ambulance division, SJC Industries, to privately held Wheeled Coach Industries, a subsidiary of Allied Specialty Vehicles, which is based in Orlando. Fla.
According to a filing with the SEC, Wheeled Coach will pay SJC $12.5 million.
"The sale provides the opportunity to streamline our bus operations and refocus these assets on our core business in a way that leaves our Goshen Coach operation better positioned to take advantage of future opportunities," Thor President and COO Bob Martin was quoted as saying in a Monday press release from the company.
Allied Specialty is the largest emergency response vehicle manufacturer in North America with more than $1 billion in annual revenues. It manufactures buses, ambulances, and fire-rescue vehicles.
Thor is the world's largest manufacturer of RVs and a major builder of buses and commercial vehicles.
The article Thor Industries Sells Ambulance Division for $12.5 Million originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.