Fortive to spin-off precision tech segment into separate listed company (updated)

Fortive

04/09/2024 21:49

(Updates with details from company statement in paragraph 2,3
and share movement in paragraph 4)
       Sept 4 (Reuters) - 
    Industrial products maker Fortive  FTV.N  on Wednesday said
it plans to spin off its Precision Technologies segment,
creating two independent, publicly traded companies.
         Following the completion of the spin-off, the new
company will consist of the brands currently operating under its
Precision Technologies segment.
  
         Meanwhile, Fortive will continue to operate its
portfolio brands under the Intelligent Operating Solutions and
Advanced Healthcare Solutions business segments.
  
        Shares of the Everett, Washington-based company were up
3% in aftermarket trade.
  

 (Reporting by Abhinav Parmar in Bengaluru; Editing by Tasim
Zahid)
 ((Abhinav.Parmar@thomsonreuters.com;))