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Tyco International Announces close Of Sale Of Plastics, Adhesives And Ludlow Coated Products Businesses To Appollo Management
Pembroke, Bermuda: February 16, 2006 - 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. More information on Tyco can be found at www.tyco.com.