The subsidiaries within the Metals Processing Division of Glynwed are engaged in the production of steel tubing, steel electrical conduit and other similar products. These subsidiaries have sales mainly in the UK, as well as France, Germany, the U.S. and Canada. "Glynwed Metals is an excellent fit with Tyco Flow Control," said L. Dennis Kozlowski, Tyco's Chairman and Chief Executive Officer. He added, "This is the first major step in globalizing our steel tube and conduit business. The strength of Glynwed Metal's presence in the UK gives Tyco the ability to transfer its competitive advantages in global product sourcing and in operating efficiencies to the European market. The transaction will have an immediate positive impact on earnings per share."
Tyco International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and installer of fire protection systems, the largest provider of electronic security services, the largest manufacturer of flow control valves, and has strong leadership positions in disposable medical products, plastics and adhesives, electrical and electronic components and underwater telecommunications systems. The Company operates in more than80 countries around the world and has expected fiscal 1999 revenues in excess of $17 billion.