Nitin Fire: To Sell Majority Stake In Unit To Worthington Industries

Date : 12/22/2010 @ 8:57AM
Source : Dow Jones News
Stock : Worthington Industries, Inc. (WOR)
Quote : 45.74  0.82 (1.83%) @ 4:02PM

Nitin Fire: To Sell Majority Stake In Unit To Worthington Industries

Worthington (NYSE:WOR)
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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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