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C&D Completes Segment Sale to Murata

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-02

BLUE BELL, Pa. (AP) -- C&D Technologies Inc., which makes batteries and power systems, said Friday it completed the $85 million sale of its power electronics division to Japan's Murata Manufacturing Co.

The sale of the business, which makes electronic power supplies and converters, was announced June 19. The Philadelphia-area company said it will use the cash to pay down debt and invest in its power systems business.

C&D shares fell 2 cents to $4.20 in afterhours trading.

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