Timken Co.

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Divestitures / Spin-offs, Other Pre-Announcement

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

Published: 09/06/2022 11:41 GMT
Timken Co. (TKR) - 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.