Complex sentence: In 2000, Jo-Han was purchased from the ailing Seville by Mr. Okey Spaulding, a resin parts producer from Covington, Kentucky, and a new company, "JoHan Models LLC" (without the traditional hyphen) was formed.
Split into simpler sentences: In 2000, Jo-Han was purchased from the ailing Seville by Mr. Okey Spaulding, a resin parts producer from Covington, Kentucky. A new company, JoHan Models LLC (without the traditional hyphen) was formed.