01.02.2016

Bronto acquisition completed

Japanese fire and rescue equipment manufacturer Morita has completed the purchase of Bronto-Skylift from Federal Signal.

A statement on Friday evening confirmed that the sale of fire and aerial work platform manufacturer Bronto had been fully completed. It also said that its upcoming annual report and accounts for 2015, will show Bronto’s results for the year as a ‘discontinued operation’ and not part of its group results. Click here to see Morita acquires Bronto

Federal Signal chairman and past chief executive Dennis Martin said: "We would again like to thank all of the talented employees of Bronto for their commitment and dedication. We wish Morita and the Bronto team the very best as they build the future success of the business."

Newly appointed chief executive Jennifer Sherman added: "We believe strongly that this sale maximises the value of Bronto for the benefit of our shareholders. It allows us to focus on our core businesses, as we pursue strategic acquisition opportunities and redeploy our capital more effectively."