Sector News

Premier Farnell to sell Akron Brass unit to IDEX for $224.2 million

February 5, 2016
Chemical Value Chain

Engineering supply group Premier Farnell Plc said it would sell its industrial products division Akron Brass to U.S. -based IDEX Corp for $224.2 million in cash.

Premier Farnell, which makes and sells the Raspberry Pi – a mini, low-cost computer, said that the deal would help it focus on its core electronics distribution business.

The company also said on Friday that said it expected profit for the year ended Jan. 31 to be broadly in line with its recent guidance.

(Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)

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