Black & Decker Selling Units: The Towson,...
From Times Staff and Wire Reports
Black & Decker Selling Units: The Towson, Md.-based firm said it will sell three recently acquired businesses to meet debt payments resulting from its $2.8-billion acquisition of Emhart Corp. The firm will sell its True Temper Hardware business to Huffy Corp. of Dayton, Ohio, and Medic, a medical computer systems unit of Planning Research Corp., to a management-led buyout group. Its domestic capacitors operation will be sold to investment group Yosemite Investment Inc., and its lawn-care subsidiary, Gardenamerica Corp., to Australia’s James Hardie Industries Ltd. for $40 million. The firm said proceeds from the asset sales will cut its acquisition debt by $700 million.
