Specialty vehicle maker Thor Industries (NYSE:THO) is selling substantially all of the assets of its ambulance division, SJC Industries, to privately held Wheeled Coach Industries, a subsidiary of Allied Specialty Vehicles, which is based in Orlando. Fla.
According to a filing with the SEC, Wheeled Coach will pay SJC $12.5 million.
"The sale provides the opportunity to streamline our bus operations and refocus these assets on our core business in a way that leaves our Goshen Coach operation better positioned to take advantage of future opportunities," Thor President and COO Bob Martin was quoted as saying in a Monday press release from the company.
Allied Specialty is the largest emergency response vehicle manufacturer in North America with more than $1 billion in annual revenues. It manufactures buses, ambulances, and fire-rescue vehicles.
Thor is the world's largest manufacturer of RVs and a major builder of buses and commercial vehicles.