T&N seals deal

Components group T&N, has sold its Flexlitallic industrial sealing business for £42m to US industrial parts manufacturer Dan Loc of Texas. Estimated profits from the sale of £19m will help fund T&N’s £323m provision against future asbestos liabilities. Further disposals of non-core businesses are planned to raise £150m towards the fund.

Components group T&N, has sold its Flexlitallic industrial sealing business for £42m to US industrial parts manufacturer Dan Loc of Texas. Estimated profits from the sale of £19m will help fund T&N’s £323m provision against future asbestos liabilities. Further disposals of non-core businesses are planned to raise £150m towards the fund.