Actuant Completes Sale of Norelem S.A.Business Editors MILWAUKEE--(BUSINESS WIRE)--Aug. 11, 2000 Applied Power Inc., doing business as Actuant Corporation, (NYSE NYSE See: New York Stock Exchange :ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) announced today that it has completed the previously announced sale of Norelem S.A. to a private German company. Terms of the agreement were not disclosed. Robert Arzbaecher, Chief Executive Officer, commented "We are pleased to announce the completion of the Norelem divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). . We will be using the proceeds to permanently extinguish a portion of our term loans under our Senior Secured Credit Facility." Actuant, headquartered in Milwaukee, Wisconsin For other places with the same name, see Milwaukee (disambiguation). Milwaukee is the largest city within the state of Wisconsin and 25th largest (by population) in the United States. , is a diversified industrial company with sales in excess of $500 million and operations in 19 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded tools. Products are offered under such established brand names as Enerpac, Gardner Bender Gardner Bender is a manufacturer of professional electrician's tools and supplies. External links
For further information on Actuant and its business units, visit the company's website at www.actuant.com . |
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