Blount International (parent Co of Oregon Chain) Sells Gear Products for $25 million

October 4, 2010 | Posted in Manufacturer News

Source: Portland Business Journal

Blount International Inc. sold its Gear Products Inc. subsidiary for $25 million in cash to Tulsa Winch Inc., the company said Friday.

Portland-based Blount (NYSE: BLT) manufactures sawchain and other outdoor products in the forestry, lawn and garden, farm and ranch, and construction industries.

Its wholly-owned Gear Products subsidiary employs about 60 in Tulsa making mechanical power transmission components for equipment manufacturers in several industries, including construction, forestry and mining.

Jenks, Okla.-based Tulsa Winch is an operating unit of Dover Corp. (NYSE: DOV), an Illinois industrial products manufacturer that last year generated nearly $6 billion in revenue.

Blount had previously announced its intention to sell the Gear Products division.

Proceeds from the sale will be used to reduce debt and pay applicable taxes and transaction fees, the company said.

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Blount International (parent Co of Oregon Chain) Sells Gear Products for $25 million

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