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International to Buy Workhorse, Uptime

July 7, 2005

Workhorse Custom Chassis and Uptime Parts, subsidiaries of Union City, IN-based GVW Holdings Corp., are being sold to International Truck and Engine Corp of Warrenville, Ill., reports. The deal should be finalized in the next three months.Workhorse builds truck chassis for the motor home, light bus and walk-in truck markets, while Uptime Parts, based in West Chicago, IL, and Reno, NV, supplies replacement and aftermarket parts for Workhorse. Andrew Taitz, chairman & CEO of GVW, said his company is holding on to subsidiaries Autocar and Union City Body Co. (UCBC). He says this sale will allow them to concentrate on niche markets, however, he does expect to continue a working relationship with Workhorse.Workhorse and Uptime will maintain their respective management structures, and International says there will be no reorganization as the two companies act as independently and wholly owned subsidiaries.Taitz said discussions with International grew out of Workhorse’s desire to integrate International’s VT 275 V6 diesel engine into its new W42 commercial chassis for walk-in trucks, which goes into production later this year.
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