Investment Firm Reopening Dorsey Plant

The Dorsey Trailer plant in Elba, Ala., will be revamped and produce trailers for a customer in Mexico.

The Birmingham (Ala.) News reports that the plant has been purchased by Chriss Street, president of Fruehauf Trailer Corp. and chairman of California-based Street Asset Management investment firm.
The plant closed up late last year when Atlanta-based Dorsey suspended operations at three of its plants shortly before filing bankruptcy.
Street is no stranger to struggling trailer businesses. He became president and CEO of Fruehauf after that company filed for bankruptcy in 1997 and led a team that turned the company around.
Street told the News he paid $4.6 million for assets he believes are worth $18 million. He will invest another $2 million to improve the plant. He will keep the Dorsey name.