PEMBROKE, Bermuda, April 16 /PRNewswire-FirstCall/ -- Tyco
International Ltd. (NYSE: TYC, BSX: TYC) today announced that it has
entered into a definitive agreement to sell its Ancon Building Products
business to CRH plc for approximately 88 million pounds Sterling ($174
million). Ancon Building Products designs and manufactures a range of
building products for the construction industry. The business had revenue
of $107 million in 2007, operating profit of $23 million and employs 370
people. Ancon is headquartered in Sheffield, United Kingdom and also has
operations in continental Europe, the Middle East and Australia.
The sale of Ancon is a further step in Tyco's ongoing refinement of its
portfolio and is consistent with the company's strategy to divest certain
non-core businesses.
Completion of the Ancon transaction is subject to customary closing
conditions and regulatory approvals. In connection with this sale, the
financial results of this business, which have previously been reported as
part of Corporate and Other, will be classified as discontinued operations
when Tyco reports its second quarter results on May 1, 2008.
Tyco International (NYSE: TYC) is a diversified, global company that
provides vital products and services to customers in more than 60
countries. Tyco is a leading provider of security products and services,
fire protection and detection products and services, valves and controls,
and other industrial products. Tyco had 2007 revenue of more than $18
billion and has 118,000 employees worldwide. More information on Tyco can
be found at http://www.tyco.com.
FORWARD-LOOKING INFORMATION
This release may contain certain "forward-looking statements" within
the meaning of the United States Private Securities Litigation Reform Act
of 1995. These statements are based on management's current expectations
and are subject to risks, uncertainty and changes in circumstances, which
may cause actual results, performance or achievements to differ materially
from anticipated results, performance or achievements. All statements
contained herein that are not clearly historical in nature are
forward-looking and the words "anticipate," "believe," "expect,"
"estimate," "plan," and similar expressions are generally intended to
identify forward-looking statements. Economic, business, competitive and/or
regulatory factors affecting Tyco's businesses are examples of factors,
among others, that could cause actual results to differ materially from
those described in the forward-looking statements. Tyco is under no
obligation to (and expressly disclaims any such obligation to) update or
alter its forward-looking statements whether as a result of new
information, future events or otherwise. More detailed information about
these and other factors is set forth in Tyco's Annual Report on Form 10-K
for the fiscal year ended September 28, 2007 and quarterly report on Form
10-Q for the quarterly period ended December 28, 2007.
SOURCE Tyco International Ltd.
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Related links:
http://www.tyco.com
CONTACT:
Media, Paul Fitzhenry, +1-609-720-4261,
pfitzhenry@tyco.com, or Investors, Ed Arditte, +1-609-720-4621,
Karen Chin, +1-609-720-4398, all for Tyco International Ltd.
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