Amcast Completes the Sale of Its Flow Control Business.DAYTON, Ohio -- Amcast Industrial Corporation, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AICO AICO ASEAN Industrial Cooperation Scheme AICO Army Internal Control Office ) announced today that it has completed the sale of most of the assets of its Flow Control operation. The sale was made to a U.S. subsidiary of the Dutch group Aalberts Industries N.V. (Amsterdam: AALB Aalb Aalborg (Denmark) AALB Asthma, Allergy and Lung Biology AALB Arkansas Auctioneers Licensing Board AALB Australian Administrative Law Bulletin AALB Apeldoornse Academie voor Lichaamsverzorgende Beroepen ). The sale included the businesses of Elkhart Plumbing (Elkhart, Indiana & Fayetteville, Arkansas), Elkhart Industrial (Geneva, Indiana), and Amcast Industrial Ltd. (Burlington, Ontario). This asset sale was made in order to comply with provisions of the Company's loan agreements. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $54 million will be used to reduce debt. Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. The remaining businesses include Engineered Components and Lee Brass. The company serves the automotive, construction, and industrial sectors of the economy. |
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