Technitrol to sell part of AMI to Metalor

AP News
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Posted: Dec 22, 2009 6:37 PM

Electronic products company Technitrol Inc. said Tuesday that it will sell the North American operations of its AMI Doduco electrical contact products unit to Metalor Technologies International SA.

The terms of the deal were not disclosed, but Technitrol said it will use the proceeds to payoff debt.

The deal is expected to close in early January.

The North American business includes operations in Export, Pa., Luquillo, Puerto Rico and Mexico City. North American rivet production operations in Mexico will remain with Technitrol and be sold with the AMI Doduco operations in Europe and Asia.

The transaction is part of Technitrol's overall plan to exit electrical contact products and focus solely on its core business of designing, making and marketing electronic components.

Shares of Technitrol fell 3 cents to close at $4.21 Tuesday.