Blount Signs Agreement To Sell Sporting Equipment Group. (Industry News).Blount International Inc. announced in late October that it has executed a letter of intent to sell its Sporting Equipment Group (SEG n. 1. (Bot.) Sedge. 2. The gladen, and other species of Iris. 1. A castrated bull. ) business to Alliant Techsystems Alliant Techsystems NYSE: ATK is a major US aerospace and defense contractor with sales of approximately USD $3.6 billion (fiscal year 2007) [1] and strong positions in propulsion, composite structures, munitions, precision capabilities, and civil and sporting for approximately $250 million of ATK ATK - Andrew Toolkit common stock. The Sporting Equipment Group includes brand names Federal, Speer, Outers, CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) , Simmons, Weaver and others, and has served its markets for more than 75 years. "The decision to sell an established and profitable business such as SEG is never easy," said Harold Layman, Blount president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "However, this is consistent with Blount's long-term strategy for reducing debt, focusing on the growth opportunities in our Outdoor Products Group and Industrial and Power Equipment Group, and improving shareholder value. "Alliant Techsystems has an established and thriving ammunition business and the Sporting Equipment Group will benefit from the opportunities available in combining these two strong enterprises. We expect the customers and employees of SEG will benefit significantly from this proposed transaction." SEG had sales in fiscal 2000 of $314 million, and operating profits of $37 million. SEG has about 1,700 employees. |
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