Printer Friendly

COLTEC ANNOUNCES AGREEMENT TO SELL CENTRAL MOLONEY

 NEW YORK, Jan. 26 /PRNewswire/ -- Coltec Industries Inc (NYSE: COT) today announced that it has entered into an agreement to sell its Central Moloney Transformer Division to Kuhlman Corporation. Central Moloney, based in Pine Bluff, Ark., has sales of $79 million in 1992.
 John W. Guffey Jr., president and chief operating officer of Coltec Industries, said, "We elected to concentrate our resources in businesses in which we have stronger market positions."
 This cash transaction, valued at a price approximating book value, is subject to customary closing conditions and various approvals. The close is scheduled to be completed in the first quarter of 1993.
 Coltec Industries Inc is a manufacturing company with sales of approximately $1.3 billion serving aerospace, automotive and other industrial markets.
 -0- 1/26/93
 /CONTACT: Michael Dunn of Coltec Industries, 212-940-0523/
 (COT)


CO: Coltec Industries Inc.; Central Moloney Transformer Division;
 Kuhlman Corporation ST: New York, Arkansas IN: ARO SU:


AH-SH -- NY100 -- 9229 01/26/93 15:56 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 26, 1993
Words:162
Previous Article:BATTERY TECHNOLOGIES INC. (BTI) AFFILIATE RECEIVES GRANT FOR PROGRAM
Next Article:KINARK ANNOUNCES STOCK SALE
Topics:


Related Articles
KUHLMAN ANNOUNCES INTENTION TO ACQUIRE CENTRAL MOLONEY
COLTEC ANNOUNCES INTENTION TO SELL CENTRAL MOLONEY
COLTEC INDUSTRIES REPORTS FOURTH QUARTER AND 12-MONTH RESULTS
KUHLMAN AND COLTEC SIGN DEFINITIVE AGREEMENT
COLTEC AND KUHLMAN TERMINATE AGREEMENT TO SELL CENTRAL MOLONEY TRANSFORMER
COLTEC INDUSTRIES REPORTS A RESTRUCTURING CHARGE, A FAVORABLE COURT RULING AND SECOND QUARTER AND SIX MONTH RESULTS
COLTEC COMPLETES SALE OF CENTRAL MOLONEY TRANSFORMER
COLTEC INDUSTRIES NAMES TWO GROUP PRESIDENTS AND ONE DIVISION PRESIDENT
COLTEC INDUSTRIES REPORTS FIRST QUARTER RESULTS
Management buyout brings new start to Central Moloney.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters