LAFAYETTE, Ind. (Inside INdiana Business) — Lafayette-based Wabash National Corp (NYSE: WNC) has announced its intention to sell its Beall brand of tank trailers and assets to MAC Trailer Enterprises in Ohio. Beall specializes in manufacturing aluminum tank trailers for the dry bulk and petroleum industries.
Wabash National says it acquired the tank and trailer business from Beall Corporation in 2013 and represented $23 million in sales last year.
“The sale of Beall Tank Trailers represents another tangible step in our work to optimize asset efficiency and focus our growth efforts on markets with scalable opportunities,” said Mike Pettit, senior vice president and chief financial officer. “We plan to reallocate resources to support continued innovation across our product portfolio, as well as strategic growth in parts and services, cold chain and home delivery markets.”
The sale to MAC is expected to close on December 31, with Beall continuing operations under ownership of MAC.
Financial terms of the deal were not disclosed.