News releaseTomkins sells Lasco Fittings business13 February 2007 Tomkins plc announces that it has sold its Lasco Fittings business to Aalberts Industries US Holding Corp., a subsidiary of Aalberts Industries N.V. Based in Brownsville, Tennessee, Lasco Fittings, Inc. specializes in the production and sale of injection moulded fittings for the Irrigation, Plumbing, Industrial, Pool/Spa and Retail markets and has annual sales and gross assets of around $104 million and $35 million respectively. The sale of Lasco Fittings, Inc. is in accordance with Tomkins’ strategy to dispose of businesses that are considered to be non-core to the Group. The transaction, which will be settled in cash, is subject to Hart-Scott-Rodino regulatory review and approval by the US Federal Trade Commission and is expected to complete shortly. James Nicol, Chief Executive Officer of Tomkins, commented: "I am pleased with the deal we have reached for the disposal of Lasco Fittings, Inc to Aalberts Industries, which is in line with the Group's strategy. We are actively progressing the disposal of other businesses that we have identified as non-core to the future development of the Group." Tomkins is a world class global engineering and machinery group with market and technical leadership across two business groups: Industrial & Automotive and Building Products. Tomkins ordinary shares are listed on the London Stock Exchange under the symbol TOMK and also trade in ADR form on the New York Stock Exchange under the symbol TKS. Enquiries: Tomkins plc Finsbury PR Advisors |
