Allegheny Teledyne Announces Agreement to Sell Teledyne Fluid Systems PRV/VCP Business Units.PITTSBURGH--(BUSINESS WIRE)--July 28, 1999-- Allegheny Teledyne Incorporated (NYSE:ALT) today announced that it has reached agreement to sell the Pressure Relief Valve (PRV See DVR.) and Vehicle Control Valve A device that modulates the flow of fluid in a conduit in response to a signal from a process measurement control system. and Pump (VCP VCP - Division Vice Captain VCP - Photographic Composite Squadron (US Navy aviation unit designation used from 1959 to 1961) VCP - Value Chain Portfolio (MatrixOne) VCP - Variable and Constant Perturbation VCP - Variable Cost Productivity VCP - Vector Control Processor VCP - Vector Coprocessor VCP - Vehicle Check Point VCP - Vehicle Collecting Point VCP - Vendor Current Promise (Sprint)) businesses of its Teledyne Fluid Systems unit to Curtiss-Wright Corporation (NYSE:CW) for $44 million in cash. The transaction, which is subject to customary regulatory approvals and closing conditions, is expected to be completed in the third quarter of 1999. Earlier today, Allegheny Teledyne announced that it had reached agreement to sell Fluid Systems' other business unit, Nitrogen Products, to Barnes Group Inc. Lincoln Partners LLC was the financial advisor to Allegheny Teledyne in the transaction. Allegheny Teledyne Incorporated is a diversified manufacturing company serving global markets with specialty metals, aerospace, electronic, industrial, and consumer products. The company is one of the largest and most diversified specialty metals producers in the world. With talented people using innovative technologies and systems, Allegheny Teledyne's goal is to be the low cost, high quality supplier to global markets. Allegheny Teledyne's website can be found at http://www.alleghenyteledyne.com. |
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