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Restructuring Continues
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Business New Haven
11/17/1997
By: Russell Stone
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BRANFORD - Auto parts manufacturer Echlin Inc. (NYSE: ECH) has continued its restructuring to cut costs, create new efficiencies and streamline operations. It sold off its Ace Electric Co. subsidiary, a manufacturer of engine-starting and -charging sustems, to an investor group led by Ace management. The new business, headquartered in Columbus, Kan., has annual sales of $60 million. Proceeds of the sale will pay down Echlin's debt. Allan Cameron, president of the Echlin Automotive subsidiary, has also announced a personnel rotation in Echlin Automotive's top management.
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