Nitin Fire: To Sell Majority Stake In Unit To Worthington Industries
23 December 2010 - 12:57AM
Dow Jones News
Nitin Fire Protection Industries Ltd. (532854.BY) said Wednesday
it will sell a majority stake in its cylinder manufacturing unit to
U.S.-based Worthington Industries Inc. (WOR) for about $21
million.
Nitin Cylinders Ltd. operates a facility in India's Andhra
Pradesh state with an installed capacity to make 500,000 cylinders
a year, Nitin Fire said in a statement.
The maker of fire protection and safety equipment didn't give
any other details.
-By Anirban Chowdhury, Dow Jones Newswires; 91-22-61456108;
anirban.chowdhury@dowjones.com
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