Enpro Announces Agreement to Sell GGB to Timken for $305 Million
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Tuesday, September 6, 2022
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Mr. Vaillancourt continued, I want to thank all of our dedicated GGB colleagues for their work in building a leading global business.
Key Points:
- Mr. Vaillancourt continued, I want to thank all of our dedicated GGB colleagues for their work in building a leading global business.
- Accordingly, Enpro expects to classify the Engineered Materials segment as discontinued operations when it reports its third quarter results.
- Should the strategic review of GPT result in a sale, Enpro expects to receive approximately $290 million in after-tax net proceeds from these two Engineered Materials divestitures combined.
- Further, Enpro operates in a continually changing business environment and cannot predict new risk factors that may arise as a result of these changes.