Blount Signs Agreement To Sell Sporting Equipment Group.

Author:Thurman, Russ
Position:Industry News
 
FREE EXCERPT

Blount International Inc. announced in late October that it has executed a letter of intent to sell its Sporting Equipment Group (SEG) business to Alliant Techsystems for approximately $250 million of ATK common stock.

The Sporting Equipment Group includes brand names Federal, Speer, Outers, CCI, Simmons, Weaver and others, and has served its markets for more than 75 years.

"The decision to sell an established and profitable business such as SEG is never easy," said Harold Layman, Blount president and CEO. "However, this is consistent with Blount's long-term strategy for reducing debt, focusing on the growth opportunities in our Outdoor Products Group and Industrial and Power Equipment...

To continue reading

FREE SIGN UP