Hanson Industries has agreed to sell its...

Hanson Industries has agreed to sell its Walter Kidde Worldwide Fire Protection unit to Pilgrim House Group PLC for $265.8 million. The company, owned by the U.S. subsidiary of Hanson PLC, manufactures fire protection devices ranging from fire extinguishers to fire detection systems for industrial properties. Hanson acquired the fire protection operations as part of its $1.6-billion acquisition of Kidde Inc. in 1987. The operations reported earnings of $26 million on sales of $263 million last year.