Cookson Group plc has disposed of more of its peripheral businesses, including some units that manufacture close-tolerance plastic components for the electronics sector.
London-based Cookson announced it has sold its Precision Products operations in two separate deals. The operations comprise plants in Mexico and the United States making metal and plastic electronics and other parts, and units in the United States and Brazil producing metal dental products, including implants.
The latest deal, announced Jan. 20, included some plastics operations. The company sold seven businesses to Jordan Co. LP of New York for $72.9 million in cash plus $3.5 million in debt.
Included in the deal are Polymetallurgical Corp. of North Attleboro, Mass.; General Metal Finishing Co. Inc. and Brainin Advance Industries Inc. of Attleboro, Mass.; Brainin-Fairfield of Fairfield, Ohio; Matrix Inc. of East Providence, R.I.; Wauconda Tool & Engineering Co. Inc. in Algonquin, Ill.; and Brainin de Mexico SA de CV of Naucalpan, Mexico.
In 2002, Cookson's Precision Products businesses had profit of £9 million ($14 million) on sales of £69 million ($110 million).
For some years, Cookson has been disposing of noncore operations to concentrate on three major divisions: electronics, ceramics and precious metals. Cookson still owns some plastics-related operations in its electronics division: Polyclad Technologies, which makes laminated items, and Alpha-Fry Technologies, which makes molding compound.