Hawk Performance Moves On
by CP Staff
Hawk Corporation has announced that its Board of Directors has authorized the Company to sell its performance racing segment.
The performance racing segment, consisting of Quarter Master Industries, Inc. and Tex Racing Enterprises, Inc., engineers, manufactures and markets premium branded clutch, transmission and driveline systems for the performance racing market.
The segment reported net sales of $12.8 million for the year ended December 31, 2007 accounting for 5.6% of the Company's total net sales for the year. The Company will retain its Hawk Performance brake business which will remain a part of its friction products segment.
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The company previously announced that they had become the “Official Brake Products of NASA” for the 2008 season. As part of this new partnership, Hawk
Performance has launched a substantial national contingency program that will benefit NASA’s entire membership.
In addition to all regional events, Hawk will provide significant contingency programs for NASA’s National Championship at Mid-Ohio and the 25 Hours of Thunderhill.
"NASA has become a major force in North American motorsports and we are very excited to be associated with such a professionally run operation." stated Carl
Harbert, Director of Marketing "NASA's growing membership represents what is truly unique and powerful about American grassroots racing."
Headquartered in Cleveland, Ohio, Hawk has approximately 1,150 employees at 13 manufacturing, research, sales and administrative sites in 7 countries.
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