IMT Sold to Oshkosh Truck

(Akron/Tire Review) Service truck maker Iowa Mold Tooling Co. Inc. has been acquired by Oshkosh Truck Corp. The all-cash deal was valued at $131 million, and the parties expect to close the deal by Sept. 30. IMT, headquartered in Garner, Iowa, employs about 375 people, and anticipates that it will operate as a wholly owned subsidiary of Oshkosh Truck Corp.

Oshkosh Truck manufactures specialty commercial, fire and emergency, and military trucks, and truck bodies under the brand names Pierce fire trucks, McNeilus concrete mixers, Jerr-Dan wreckers and London concrete mixers. The company posted 2005 sales of $3 billion, and it employs more than 8,000 people worldwide.