Brief: Enpro Announces Agreement To Sell GGB To Timken For $305 Million

Enpro

06/09/2022 12:37

Sept 6 (Reuters) - EnPro Industries Inc  NPO.N :
    * ENPRO ANNOUNCES AGREEMENT TO SELL GGB TO TIMKEN FOR $305
MILLION
    * ENPRO INDUSTRIES INC - ANTICIPATES EXITING ENGINEERED
MATERIALS
SEGMENT BY END OF 2022
    * ENPRO INDUSTRIES INC - ENGINEERED MATERIALS SEGMENT IS
EXPECTED
TO BE CLASSIFIED AS DISCONTINUED OPERATIONS
    * ENPRO INDUSTRIES INC - FOLLOWING DEAL, CO TO HAVE
PORTFOLIO
COMPOSED OF ITS ADVANCED SURFACE TECHNOLOGIES AND SEALING
TECHNOLOGIES SEGMENTS
    * ENPRO INDUSTRIES - IF STRATEGIC REVIEW OF GPT RESULTS IN
SALE,
CO EXPECTS TO RECEIVE ABOUT $290 MILLION NET PROCEEDS FROM
ENGINEERED MATERIALS DIVESTITURES
    * ENPRO INDUSTRIES INC - INTENDS TO USE PROCEEDS TO ADVANCE
ITS
CAPITAL ALLOCATION PRIORITIES, INCLUDING FURTHER DEBT REDUCTION

Source text for Eikon:  ID:nBw357YZFa 
Further company coverage:  NPO.N 

 ((Reuters.Briefs@thomsonreuters.com;;))