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BRIEF-Wave to sell European and Pacific Rim businesses
November 20, 2017 / 1:39 PM / a month ago

BRIEF-Wave to sell European and Pacific Rim businesses

Nov 20 (Reuters) - Worthington Industries Inc

* Wave to sell European and Pacific Rim businesses

* Worthington Industries Inc - ‍Worthington expects to realize approximately $45 million for its 50% share of Wave operations being sold​

* Worthington Industries -‍ co’s Worthington Armstrong venture, Wave, agreed to sell business, operations in Europe, Middle East, Africa, Asia to Knauf Group​

* Worthington Industries - the ‍Wave and AWI businesses and operations in the Americas are not part of the agreement​

* Worthington Industries - once deal is completed, sale is expected to reduce Worthington’s share of equity income from wave by about $5 million/year​

* Worthington Industries Inc - deal ‍is part of broader transaction with Armstrong World Industries, the other partner in Wave Jv​ Source text for Eikon: Further company coverage:

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