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Show " ...... , ,. If ; .... f., -t. -n' i k : , . ... & ' J .. j n ' i ' i Mack Trucks, Inc. CEO John B. Curcio answers reporters' questions at press conference FJ while Allen Alexander of the Savage Companies waits his turn. The pair have just announced the purchase of Savage Manufacturing by Mack Trucks. Savage sells subsidiary ; I in P.G. to Mack Trucks Mack Trucks, Inc. announced in a Salt Lake City rr- press conference last Wednesday that it has signed a 'Al letter of intent to purchase certain of the manufactur-k manufactur-k ing assets of Savage Manufacturing Corporation, a m producer of front-end discharge ready-mix cement ) mixers. Savage Manufacturing, a subsidiary of The Savage Companies, is located in Pleasant Grove. AH The sales agreement is expected to become effective A Jan. 31. Savage Manufacturing has produced the front-end 3 mixers in Pleasant Grove for severalyears. Each mixer is completely designed, fabricated and assembled in the Utah Plant. Last year Savage Manufacturing had gross sales revenues in excess of $5 million. k "We are proud that Mack Trucks, Inc., a world- ' renowned truck manufacturer has recognized the quality of our product," said Allen Alexander, president presi-dent of the Savage Companies. "The Savage mixer is an excellent vehicle, but needs the marketing and distributionn strengths of Mack Trucks in order to realize its full potential," he added. For many years Mack has been the North American I market leader in the sales of class 8 construction vehicles and in sales of traditional cement mixer I chassis. There are currently over 50,000 cement mix- I ers in the U. S. today, representing a market that has been growing at a rate of 10 per cent per year. ; Front-end discharge mixers have representated a steadily incresing portion of that market and in 1988 accounted for about 15 per cent of all cement mixers sold in this country. "The addition of the Savage mixer to the Mack product line reflects our strong commitment to the construction market," noted John B. Curcio, Chairman Chair-man of the Board and Chief Executive Officer of Mack Trucks, Inc. "With this acquisition, Mack will be the first major class 8 truck manufacturer to offor a front-end discharge dis-charge cement mixer to the U. S. market," he added. Mack Trucks, Inc., a publicly held U. S. company on the NASDAQ System, is one of America's largest producers of heavy- duty diesel trucks in addition to major product components. Mack also markets a line of mediumm-duty diesel trucks throughout North America, parts of Central Am erica, Au strali a and New Zealand. Mack vehicles are sold and serviced in more ' than 65 countries around the world. The Savage Companies and its subsidiaries have operations throughout the western United States, which transport a variety of materials across the United States, including coal, sand and gravel and ready-mix concrete. The companies are also heavily involved in property development. |
