FRUEHAUF RESTRUCTURES BUSINESS OFFICES

FRUEHAUF RESTRUCTURES BUSINESS OFFICES

Fruehauf Trailer Corp. announced Thursday it has completed "a major realignment of business operations into four business groups" and appointed new board members.

A leading truck trailer manufacturer, Fruehauf said it will have one division each for vans; parts and components; specialty trailers; and sales and distribution. Each division will be headed by a general manager, the company said.The restructuring follows the company's obtaining a $45 million capital infusion from private investors, including $25 million in credit and $25 million in private placement of new common stock.

The company's approximately $85 million in debt also was restructured.

"We intend to accelerate the introduction of new product designs and re- engineer our existing products," Thomas B. Roller, president and chief executive, said in a statement.

The new board will be composed of Mr. Roller; Timothy J. Wiggins, secretary and executive vice president of finance and administration and chief financial officer; and Anthony Miller, executive vice president of Cleveland-based Research Environmental Industries Inc.