Vision Technologies Land Systems, a subsidiary of Singapore Technologies Engineering, has entered into an agreement to purchase the Kidron and Hackney divisions of Specialized Vehicles Corporation. The agreement was expected to close by the end of August; terms were not disclosed.
John May, Kidron’s president, said the sale will provide the resources to reaffirm Kidron’s industry leadership that goes back nearly 60 years, designing and producing multi-temp, multi-stop refrigerated truck bodies and trailers, dry van bodies and custom heavy equipment cabs.
Vision Technologies Land Systems, headquartered in Alexandra, Va., is involved in a number of projects with the U.S. Defense and Homeland Security departments, presenting opportunities for Kidron’s transportation products and its cab fabrication operations, according to a press release. Kidron’s management team has agreed to stay in place, and all sales, engineering, customer service and plant operations will remain intact, the release said.
STE is a $1.8 billion company, backed by a $70 billion company with 100 subsidiaries and associated companies having customers in 60 countries with operations in 22 cities; total employment is 12,000 worldwide. The corporate relationship with Vision Technologies is expected to open new access for Kidron into more global supply chains and create greater opportunities in more international markets, the release said.