United Technologies Sells Unit to Schlegal
United Press International
United Technologies Corp. said it agreed to sell its automotive sealing business to Schlegel Corp. for $200 million.
Schlegel, based in Rochester, N.Y., is the U.S. subsidiary of Britain’s BTR PLC.
United Technologies said it will use proceeds from the sale of its sealing business, based in Detroit, to reduce debt. United Technologies acquired substantial debt when it acquired Sheller-Globe Corp. last year.
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