Carbide Sells Welding Business
Associated Press
DANBURY, Conn. —
Union Carbide Corp. has completed the sale of its domestic and international welding and cutting systems businesses for a combined price of about $70 million, the company said Tuesday.
Union Carbide completed the sale of its Canadian and German welding and cutting businesses to affiliates of L-Tec Co. for about $13 million. In July, L-Tec bought the Carbide’s similar domestic businesses for $57 million.
L-Tec is a subsidiary of Integrated Resources Inc. of New York. Its president is O. P. Johnson, who once managed the welding and cutting business segment in Union Carbide’s Linde division.
Carbide’s Canadian operations were sold to L-Tec Canada Inc.; its German businesses were sold to L-Tec Deutschland GmbH.
