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Tyco International Announces Close of Sale of Plastics, Adhesives and Ludlow Coated Products Businesses to Apollo Management

Published on 2006-02-17. Author : SpecialChem

PEMBROKE, Bermuda -- Tyco International Ltd. (NYSE: TYC; BSX: TYC) today announced that it has closed the previously- announced sale of its Plastics, Adhesives and Ludlow Coated Products businesses to an affiliate of private investment firm Apollo Management, L.P., for $975 million in cash.

Total 2005 revenue for these businesses was $1.7 billion. Tyco's A&E Products Group, a leading global producer of plastic garment hangers, is not included in this transaction - and is being sold separately.

About Tyco International

Tyco International Ltd. is a global, diversified company that provides vital products and services to customers in four business segments: Fire & Security, Electronics, Healthcare, and Engineered Products & Services. With 2005 revenue of $40 billion, Tyco employs approximately 250,000 people worldwide.

Source: Tyco International Ltd.

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