Amcast Completes the Sale of Its Flow Control Business.DAYTON, Ohio -- Amcast Industrial Corporation, (OTCBB:AICO AICO - Army Internal Control Office AICO - ASEAN Industrial Cooperation Scheme) 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 - Aaron Fabric Light Brown AALB - abnormally accumulated luteal body AALB - Aerobic-Anaerobic Landfill Bioreactor AALB - Ailes Anciennes-Le Bourget AALB - Apeldoornse Academie voor Lichaamsverzorgende Beroepen (Netherlands) AALB - Arkansas Auctioneers Licensing Board AALB - Asthma, Allergy and Lung Biology AALB - Australian Administrative Law Bulletin AALB - Australian Amateur Boxing League). The sale included the businesses of Elkhart Elkhart, city (1990 pop. 43,627), Elkhart co., N Ind., at the confluence of the Elkhart and St. Joseph rivers; settled 1824, inc. 1877. The city's status as a chief producer of band instruments began in 1875. Other major products include pharmaceuticals (the industry dates from 1884), machinery, electrical equipment, motor homes, and trailers. Agriculture and livestock are also prevalent. 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 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion