Allegheny International has completed the previously announced...

Allegheny International has completed the previously announced sale of its Orange-based subsidiary, Thermco Systems, to a Silicon Valley firm for $22.7 million, according to a federal filing. Silicon Valley Group Inc., of San Jose, also bought Thermco affiliates, including Gryphon Products, Thermco Products GmbH of West Germany, Thermco Semiconductor Equipment of England and Thermco Systems of Hong Kong, according to an SEC filing. Thermco produces equipment for manufacturing semiconductors. The company employs more than 400 people. In early 1988, Pittsburgh-based Allegheny filed for Chapter 11 reorganization in U.S. Bankruptcy Court. The Thermco sale was part of Allegheny’s plans to divest all but its consumer-goods businesses. Allegheny is best known for its household appliances under the Oster and Sunbeam brands.