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Balcrank Products Sold

Published July 10th, 2009

Came across this press release from GenTek Inc. yesterday afternoon. Not sure what it means for Balcrank, which is located at 115 Reems Creek Road:

GenTek Inc. Announces the Sale of Its Balcrank Products, Inc. Fluid Transfer Business

PARSIPPANY, N.J., July 9, 2009 (GLOBE NEWSWIRE) — GenTek Inc. (Nasdaq:GETI) announced today that it has completed the sale of its Balcrank Products, Inc. fluid transfer business located in Weaverville, NC to Linter North America, a subsidiary of Linter Investments of Spain, one of the Moratiel Group of companies.

Commenting on the transaction, William E. Redmond, Jr., President and Chief Executive Officer of GenTek noted, “This transaction completes the transformation of GenTek’s operating portfolio to focus exclusively on our chemicals and valve actuation businesses. This further refinement of our focus allows us to operate more efficiently from both an overhead cost and capital allocation perspective, further improving our operating cash generation profile.”

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This entry was published on Friday, July 10th, 2009 at 1:36 pm and is filed under In the News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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