Amcast Sells Flow Control Division Assets

Amcast Industrial Corporation is to sell most of its Flow Control division’s assets, the company announced today. Amcast has signed an agreement to sell the assets to a US subsidiary of the Dutch group, Aalberts industries.

Amcast Industrial has made the sale in order to comply with the provisional of its loan agreements and therefore will use the proceeds to reduce debt.

The sale is expected to be finalised by the beginning of August, subject to customary closing procedures and the approval of industry regulators.

The Flow Control segment includes the Elkhart Plumbing, Elkhart Industrial and Amcast Industrial businesses.