Parts maker Williams Controls is for sale.
The Portland, Ore.,-based company announced that after a review of strategic alternatives by its investment banker, the board of directors has decided to look for buyers of the company, as a whole or piecemeal.
W.Y. Campbell & Co., since it started its analysis of Williams Controls in mid-January, says it has had a number of potential buyers express interest in the company or its subsidiaries.
"We believe that our remaining businesses, primarily the Portland heavy truck operation and our Florida sensor business and automotive electronic throttle control business, can be very attractive properties for the right strategic buyers, at prices which we believe are not reflected in the company's current stock price," said Williams President and CEO Thomas Ziegler.
The company also announced that it has reached an agreement with its primary bank to continue funding during the sales process.
The Portland, Ore.,-based company announced that after a review of strategic alternatives by its investment banker, the board of directors has decided to look for buyers of the company, as a whole or piecemeal.
W.Y. Campbell & Co., since it started its analysis of Williams Controls in mid-January, says it has had a number of potential buyers express interest in the company or its subsidiaries.
"We believe that our remaining businesses, primarily the Portland heavy truck operation and our Florida sensor business and automotive electronic throttle control business, can be very attractive properties for the right strategic buyers, at prices which we believe are not reflected in the company's current stock price," said Williams President and CEO Thomas Ziegler.
The company also announced that it has reached an agreement with its primary bank to continue funding during the sales process.
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