Danaher Agrees to Sell Power Quality Business
Danaher, a District-based manufacturing conglomerate, announced this afternoon that it had reached an agreement to sell power quality business to Thomas & Betts Corporation for about $280 million in cash. Last year, the unit recorded revenue of about $130 million. Danaher, which reported total revenue of $9.6 billion in 2006, said it expected the deal to close later this quarter.
Separately, Danaher said it had completed its previously announced purchase of Glen Allen, Va.-based Chem Treat for $435 million.
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