CNH Industrial sells Raven’s speciality film division for $350 million -Breaking
[ad_1]
© Reuters. FILEPHOTO: CNH is an Italian-American manufacturer of industrial vehicles. This logo was displayed at an Italian-American event that CNH hosted to show its new fully-electric and hydrogen fuel-cell truck models. It took place in Turin, Italy on December 3rd 2019. REUTERS/MassimoMILAN, (Reuters) – CNH Industrial (NYSE 🙂 announced on Friday that the company had sold its Raven Industries division of engineered film to Industrial Opportunity Partners (IOP) at $350 million.
CNH Industrial purchased U.S. based films for $2.1 billion. The Raven Engineered Films Division was sold. Raven Industries It bolstered its equipment and agricultural business last year.
In the course of the agreement, the Italian-American consortium began a business review for Raven’s two other businesses. It focuses on high-performance special films as well aerospace and defense solutions.
CNH stated in a statement that the sale of Raven EFD is subject to standard closing adjustments.
Goldman Sachs (NYSE 🙂 Barclays CNH Industrial was assisted by (LON:), which it also added.
Raven’s Aerostar unit still makes up the Group, however Chief Executive Scott Wine stated that CNH was keen to sell it and that strong buyers were interested.
[ad_2]