Carlisle to exit Auto business, sell Engineered Products unit

Charlotte, North Carolina--Carlisle Companies Inc. has issued a statement saying it intends to exit the automotive supply business with the sale of its Carlisle Engineered Products (CEP) subsidiary.

CEP has ten plants and one technical centre around the world, most of which make moulded plastics goods. Two of these--Ashtabula Ohio and Middlefield Ohio--process rubber. Ashtabula makes small injection mouldings from silicone rubber while Middlefield makes moulded and extruded rubber goods.

Richmond McKinnish, Carlisle's President & Chief Executive Officer, commented: "Exiting the automotive business is consistent with our commitment to allocate resources to those businesses where we can create a sustainable competitive advantage. The disposition of Carlisle Engineered Products will enable us to focus on executing our strategy of growing Carlisle's core business units."

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Download Carlisle's Press release

Website of Carlisle Engineered Products