DaimlerChrysler's Freightliner LLC said it has reached an agreement to transfer ownership of its fire apparatus and emergency vehicles business unit, American LaFrance, to the New York-based investment firm, Patriarch Partners LLC.
American LaFrance is the country's fifth-largest fire and emergency services vehicle producer with a heritage dating back 173 years. American LaFrance produces and distributes a comprehensive line of fire and emergency apparatus including chassis, aerials, ambulances, pumpers, rescues and tankers.
In addition to the purchase of all operating assets, Patriarch will maintain American LaFrance's manufacturing facilities and corporate-owned dealer locations across the United States. The Ladson (S.C.) corporate office building and assembly facility, that is not part of the sale, remains a DaimlerChrysler asset. It will be utilized in part by American LaFrance until 2007.
DaimlerChrysler recently announced it will be dedicating the 460,000-square-foot facility to assembly of the next-generation Dodge Sprinter van in response to growing demand in the North American markets. Initially, 220 employees will be engaged in the production process when the plant assembles its first van at the end of the fourth quarter 2006. Through November 2005, 26,000 Sprinter vans were sold in the NAFTA region (full year 2004: 18,900 units).
"Patriarch Partners and its related entities have a successful track record in complex industries and we felt they were a perfect fit with American LaFrance's dedicated workforce and can-do attitude" said Chris Patterson, Freightliner president and CEO.
American LaFrance is the country's fifth-largest fire and emergency services vehicle producer with a heritage dating back 173 years. American LaFrance produces and distributes a comprehensive line of fire and emergency apparatus including chassis, aerials, ambulances, pumpers, rescues and tankers.
In addition to the purchase of all operating assets, Patriarch will maintain American LaFrance's manufacturing facilities and corporate-owned dealer locations across the United States. The Ladson (S.C.) corporate office building and assembly facility, that is not part of the sale, remains a DaimlerChrysler asset. It will be utilized in part by American LaFrance until 2007.
DaimlerChrysler recently announced it will be dedicating the 460,000-square-foot facility to assembly of the next-generation Dodge Sprinter van in response to growing demand in the North American markets. Initially, 220 employees will be engaged in the production process when the plant assembles its first van at the end of the fourth quarter 2006. Through November 2005, 26,000 Sprinter vans were sold in the NAFTA region (full year 2004: 18,900 units).
"Patriarch Partners and its related entities have a successful track record in complex industries and we felt they were a perfect fit with American LaFrance's dedicated workforce and can-do attitude" said Chris Patterson, Freightliner president and CEO.
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