29th April 2008 - Statement from Motion Control is "Business as Usual"

On April 22, 2008, Carlisle Companies Incorporated announced the financial results for the first quarter of 2008.  In the announcement Carlisle Companies Incorporated also stated its desire to sell its on-highway braking business (Motion Control). 

Accounting rules established by the Financial Accounting Standards Board and enforced by the Securities Exchange Commission, require publicly traded companies within the United States to report businesses or operations to be sold as “discontinued operations” within the reporting entity’s financial statements.  Therefore Carlisle Companies Incorporated will classify its Motion Control business within “discontinued operations” in its consolidated financial statements starting in the second quarter of 2008.  The term “discontinued operations” refers to Carlisle Companies Incorporated’s ownership of Motion Control rather than the ability of Motion Control to continue operations.

Until Carlisle Companies finds the appropriate strategic buyer to capitalize on the strengths and technical abilities of the Motion Control business unit, it will remain “business as usual” at Motion Control.  Customers will see the same service, quality and product performance as they have seen in the past.  We at Motion Control look forward to working with you in improving our business and exploring the opportunities that lay ahead.

Source: Carlisle Motion Control