Thursday April 9, 4:00 pm Eastern Time
Company Press Release
SOURCE: Western Power & Equipment Corp.
Western Power & Equipment Announces Proposed Acquisition
VANCOUVER, Wash., April 9 /PRNewswire/ -- Western Power & Equipment Corp. (Nasdaq: WPEC - news), an independent dealer of construction and agricultural equipment, today announced the signing of a letter of intent to acquire the assets of Yukon Equipment, Inc. (Yukon), a construction equipment dealer with three locations in Alaska.
Yukon distributes equipment from several high quality manufacturers including, but not limited to, Case Corporation [NYSE:CSE - news], Stewart & Stevenson, Elgin Sweeper Co., Powerscreen, Kubota, Trail King, and Vactor. The acquisition is structured as an asset purchase for cash and/or common stock and completion is subject to normal closing conditions. Closing is expected on or about April 30, 1998.
Western Power & Equipment sells, leases and services construction equipment for Case and over 30 other manufacturers. The company currently operates 25 retail distribution facilities in Washington, Oregon, northern Nevada, California, and Alaska.
SOURCE: Western Power & Equipment Corp.
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