Singer Co. announced that it has agreed...

Singer Co. announced that it has agreed to sell its American Meter division to Ruhrgas AG of Essen, West Germany, for about $132 million. American Meter is a leading supplier of residential gas meters to U.S. gas utilities, and also produces and markets gas metering-regulating equipment for industrial and commercial applications. It is headquartered in Philadelphia. Ruhrgas is the world’s largest importer of natural gas and the largest gas company in West Germany. The sale is part of Singer’s previously announced divestment program.