Trailer maker Wabash National Corp. (NYSE: WNC) plans to sell its Beall Tank Trucking Co. unit to MAC Trailer Enterprises Inc. The price was not disclosed.
Beall specializes in aluminum tank trailers for the petroleum and dry bulk markets. Wabash purchased certain Beall assets out of bankruptcy in January 2013. Beall had $23 million in sales in 2019. It is one of four tanker brands in Wabash’s $385 million Diversified Products Group.
“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,” Mike Pettit, Wabash senior vice president and chief financial officer, said in a press release Wednesday.
“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,” he said.
Wabash is keeping the Brenner, Bulk and Walker tank trailer brands that serve the chemical, petrochemical, and food, dairy and beverage industries,
“We remain committed to maintaining a diverse portfolio of solutions that serve customers from first to final mile,” said Kevin Page, Wabash senior vice president, customer value creation.
The Beall sale is expected to close Dec. 31. Beall will continue operations under MAC Trailer, which is based in Alliance, Ohio.
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