Circor International Divests Of Two Business Units - Quick Facts

(RTTNews) - Engineered products maker Circor International, Inc. (CIR) announced the divestiture of two of its non-strategic businesses. Terms were not disclosed. The divestiture will enable Circor to focus more on businesses with better growth and margin potential.

The company said it has sold Tulsa, Oklahoma-based Sagebrush Pipeline Equipment Co., part of its energy segment, through a management buyout agreement.

The company has also completed the sales of its U.K.-based Cambridge Fluid Systems (CFS), part of its aerospace & defense segment, to HAM-LET (Israel-Canada) Ltd.

For fiscal 2014, Circor expects Sagebrush and CFS revenues of about $41 million and $12 million, respectively, with mid-single digit adjusted operating margins resulting in an aggregate contribution of about $0.10 to $0.12 per share for both businesses.