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Lennox To Sell Its Germany-based Hyfra Process Cooling Business Unit To The Glen Dimplex Group
(RTTNews) - Climate-control solutions firm Lennox International, Inc. (LII) announced Friday it has entered into a definitive agreement to sell its Krunkel, Germany-based Hyfra Process Cooling business unit to the Glen Dimplex Group.
The company said the divestiture of its European business will enable it to continue its focused strategy on North America where it is best positioned to achieve its revenue growth and profit margin targets.
The closing of the transaction is subject to obtaining required consents and customary closing conditions. The transaction is expected to be completed in the fourth quarter of 2023.
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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.
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Chicago Business Barometer Slumps Much More Than Expected In August
MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
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