ESCO Technologies (ESE) to Sell Technical Packaging Business, Offers FY Guidance
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ESCO Announces Divestiture of Technical Packaging and Previews 2019 Earnings Release
November 18, 2019 4:15 PM ESTSt. Louis, Nov. 18, 2019 (GLOBE NEWSWIRE) -- ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today announced it has entered into a definitive agreement regarding the sale of its Technical Packaging business segment, consisting of Thermoform Engineered Quality LLC (TEQ), Plastique Ltd. and Plastique sp. z o.o. to Sonoco Plastics, Inc. and Sonoco Holdings, Inc., subsidiaries of Sonoco Products Company (NYSE: SON), a global manufacturer of industrial and consumer packaging products headquartered in Hartsville, South Carolina.
The Company expects to finalize the transaction upon receipt of certain customary regulatory approvals with expected... More
