By Cass Rains, Staff Writer
Enid News & Eagle
ENID, Okla. —
GEFCO Inc. has sold its STECO Trailer product line to an Arkansas company to focus on the production of drilling rigs and drilling products.
The sale relocates the STECO Trailer line to KNL Holdings LLC, of Paragould, Ark., which has manufactured the Peerless line of trailers for the past 42 years.
“GEFCO is excited to find a strategic buyer for the product line,” GEFCO President Aaron Harmon said in a press release. “KNL Holdings LLC has a great reputation within the trailer industry, and we believe they will do great things with the STECO product line. GEFCO decided to sell the STECO product line so that we could focus our efforts and resources on our drilling rigs and drilling products.”
STECO employees are being absorbed into GEFCO.
STECO is a manufacturer of transfer and dump trailers for demolition and refuse use. In 1972, the company engineered and manufactured the first open-top, push-out transfer trailer for the waste industry. The company developed and improved transfer and dump trailers and other ways to haul and load scrap or recyclable materials.
The agreement for the sale was announced by GEFCO on Nov. 19 and by KNL Holdings in late December.
Headquartered in Enid for more than 81 years, GEFCO has provided equipment to more than 100 countries and specializes in the design and manufacture of portable drilling rigs and related equipment for water wells, mining, shallow oil and gas exploration and production industries.