WASHINGTON (dpa-AFX) - Newell Brands (NWL) announced it has signed a definitive agreement to sell its Process Solutions Business to One Rock Capital Partners, LLC, a private equity firm. After-tax proceeds for the divestiture are anticipated to be $500 million. The deal is expected to close in the second quarter of 2019.
Process Solutions, inclusive of Plastic Solutions, Lifoam, Consumer Table Top, Zinc Products and Applied Materials, manufactures custom-designed plastic, nylons, monofilament, and zinc products that solve both industrial and consumer challenges. In 2018, net sales for Process Solutions were approximately $640 million.
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