Tomkins sell Dexter Axle division $360 million

Tomkins to sell Dexter Axle division for $360 million

5:21 AM, 28th September 2012
Tomkins to sell Dexter Axle division for $360 million

TORONTO, CANADA: Onex Corporation announced that Tomkins, jointly owned by Onex and Canada Pension Plan Investment Board, has entered into an agreement to sell its Dexter Axle division to an affiliate of The Sterling Group. The sale price will be $360 million in cash, subject to certain customary adjustments.

The Dexter Axle division manufactures trailer axle, brake and suspension assemblies and related replacement parts and components. The closing of the transaction is subject to customary conditions and is expected to occur in the fourth quarter of 2012. Including this transaction and the pending sale of the Air Distribution division, Tomkins will have sold seven non-core businesses for proceeds of approximately $2.5 billion.

© WOC News 

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


CB&I awarded $80 million offshore engineering contract

THE WOODLANDS, US: CB&I is awarded a contract valued in excess of $80 million for an offshore engineering project in Europe. The scope of work inc ...

Read more
Perstorp strengthens sales and development in Benelux market

PERSTORP, SWEDEN: Following the overall review of Perstorp’s use of sales channels, specialty chemicals, the company has decided to extend colla ...

Read more
ExxonMobil to expand synthetic lubricants capacity in Louisiana

BATON ROUGE, US: ExxonMobil is investing more than $200 million to expand its Baton Rouge chemical and lubricants plants to increase capacity for synt ...

Read more
Cedarburg Hauser expands API capacity at Wisconsin site

GRAFTON, US: Cedarburg Hauser Pharmaceuticals (CHP) has expanded the capacity of its Wisconsin based active pharmaceutical ingredient (API) manufactur ...

Read more
Evonik to build first MMA production plant using AVENEER process

ESSEN, GERMANY: Evonik Industries is starting basic planning for a new methyl methacrylate (MMA) production plant using the AVENEER process at its Mob ...

Read more
Solvay opens two rare earth recycling units in France

BRUSSELS, BELGIUM: Solvay has opened two rare earth recycling units in France. In order to diversify its sources of supply and preserve resources, the ...

Read more