Trending...
- T. Jones Group's Cameron Jones Serves as Judge for the 2026 CHBA National Awards for Housing Excellence
- $29.8 Million Record Setting Q1 with Boosted Annual Guidance to $160 Million for Expanding Pre-Owned Boat Dealer: Off The Hook YS, Inc. N Y S E: OTH
- SRK Collective Media Group Launches with a Modern Approach to Media, Authority Building, and Cultural Visibility
CHARLOTTE, N.C.--(BUSINESS WIRE)--EnPro Industries, Inc. (NYSE: NPO), a leading technology company using materials science to push boundaries in semiconductor, life sciences, and other technology-enabled sectors, today announced that it has completed the sale of its GGB bushing block business located in Dieuze, France to Melma Group. EnPro communicated its intent to exit this business on June 18, 2020 and during the third quarter identified a buyer to purchase the business.
"After announcing the exit of GGB's bushing block business in June, we are pleased to have received an offer from Melma Group to purchase and continue operating the business. This transaction represents a positive outcome for all stakeholders as it preserves the jobs of our former team members, mitigates customer disruptions, and supports progress toward reshaping our portfolio," said Marvin Riley, President and Chief Executive Officer.
The completion of this transaction is consistent with EnPro's strategy to focus its portfolio on materials science-based businesses with leading technologies, compelling margins, strong cash flow, and high levels of recurring revenue that serve markets with favorable secular tailwinds. The company will continue to apply the EnPro Operating System to enable continuous improvement and allocate capital, organically and inorganically, to drive growth in businesses with these characteristics with the goal of maximizing long-term shareholder returns.
More on ncarol.com
Oneida Associes served as exclusive transaction advisory firm to EnPro, and Fiducial Legal by Lamy served as legal counsel.
About EnPro
EnPro is a leading technology company using materials science to push the boundaries of the semiconductor, life sciences, and other technology-enabled sectors. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
About Melma Group
Melma Group is an industrial group, headquartered in France with operations in France and Germany, with casting, boilermaking and machining capabilities.
Forward-Looking Statements
Statements in this press release that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: impacts from the COVID-19 pandemic and governmental responses to limit the further spread of COVID-19, including impacts on the company's operations, and the operations and businesses of its customers and vendors, including whether the company's operations and those of its customers and vendors will continue to be treated as "essential" operations under government orders restricting business activities or, even if so treated, whether site-specific health and safety concerns might otherwise require certain of the company's operations to be halted for some period of time; uncertainty with respect to the duration and severity of these impacts from the COVID-19 pandemic, including impacts on the general economy and the markets served by the company's customers; the extent to which the impacts from the COVID-19 pandemic could result in a reduction in demand for the company's products and services, which could also result in asset impairment charges, including for goodwill; other economic conditions in the markets served by EnPro's businesses and those of its customers, some of which are cyclical and experience periodic downturns and disruptions, such as the recent disruptions in the pricing of oil and gas; prices and availability of its raw materials; the impact of fluctuations in relevant foreign currency exchange rates; unanticipated delays or problems in introducing new products; announcements by competitors of new products, services or technological innovations; changes in pricing policies or the pricing policies of competitors; and the amount of any payments required to satisfy contingent liabilities related to discontinued operations and the discontinued operations of its predecessors, including liabilities for certain products, environmental matters, employee benefit obligations and other matters. EnPro's filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe these and other risks and uncertainties in more detail. EnPro does not undertake to update any forward-looking statements made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based.
More on ncarol.com
"After announcing the exit of GGB's bushing block business in June, we are pleased to have received an offer from Melma Group to purchase and continue operating the business. This transaction represents a positive outcome for all stakeholders as it preserves the jobs of our former team members, mitigates customer disruptions, and supports progress toward reshaping our portfolio," said Marvin Riley, President and Chief Executive Officer.
The completion of this transaction is consistent with EnPro's strategy to focus its portfolio on materials science-based businesses with leading technologies, compelling margins, strong cash flow, and high levels of recurring revenue that serve markets with favorable secular tailwinds. The company will continue to apply the EnPro Operating System to enable continuous improvement and allocate capital, organically and inorganically, to drive growth in businesses with these characteristics with the goal of maximizing long-term shareholder returns.
More on ncarol.com
- Maryland Personal Injury Firm Earns National Recognition in 2026 ELA Awards
- Robert J. Bradshaw's AYE is a Gripping Dual Reality Thriller Exploring the Increasingly Blurred Line Between Humanity and Technology
- Bangxing Silicone Revolutionizes Silicone Baby Product Partnerships: Low MOQ Support + VIP Long-Term Win-Win Programs
- SteelTree Announces Launch of Its Operational Decision Intelligence Service
- Advanced AI Capabilities Reflected by Upcoming Company Name and Stock Symbol Change for Evolving Pre-Owned Boat Dealer: Off The Hook YS: N Y S E: OTH
Oneida Associes served as exclusive transaction advisory firm to EnPro, and Fiducial Legal by Lamy served as legal counsel.
About EnPro
EnPro is a leading technology company using materials science to push the boundaries of the semiconductor, life sciences, and other technology-enabled sectors. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
About Melma Group
Melma Group is an industrial group, headquartered in France with operations in France and Germany, with casting, boilermaking and machining capabilities.
Forward-Looking Statements
Statements in this press release that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: impacts from the COVID-19 pandemic and governmental responses to limit the further spread of COVID-19, including impacts on the company's operations, and the operations and businesses of its customers and vendors, including whether the company's operations and those of its customers and vendors will continue to be treated as "essential" operations under government orders restricting business activities or, even if so treated, whether site-specific health and safety concerns might otherwise require certain of the company's operations to be halted for some period of time; uncertainty with respect to the duration and severity of these impacts from the COVID-19 pandemic, including impacts on the general economy and the markets served by the company's customers; the extent to which the impacts from the COVID-19 pandemic could result in a reduction in demand for the company's products and services, which could also result in asset impairment charges, including for goodwill; other economic conditions in the markets served by EnPro's businesses and those of its customers, some of which are cyclical and experience periodic downturns and disruptions, such as the recent disruptions in the pricing of oil and gas; prices and availability of its raw materials; the impact of fluctuations in relevant foreign currency exchange rates; unanticipated delays or problems in introducing new products; announcements by competitors of new products, services or technological innovations; changes in pricing policies or the pricing policies of competitors; and the amount of any payments required to satisfy contingent liabilities related to discontinued operations and the discontinued operations of its predecessors, including liabilities for certain products, environmental matters, employee benefit obligations and other matters. EnPro's filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe these and other risks and uncertainties in more detail. EnPro does not undertake to update any forward-looking statements made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based.
More on ncarol.com
- AI-Driven Defense Expansion, Autonomous Systems and Israeli Aerospace Manufacturing Platform: VisionWave Holdings (N A S D A Q: VWAV)
- AI Predicts the Most Likely 2026 FIFA World Cup Winner
- The AI Production Shift: Why Game Development Is Entering Its Most Accelerated Phase
- World-First AI Humanoid Robot Debuts on Cherie Barber's Ground-breaking Australian Reno Show
- New Survey Reveals America's Most Feared Bridges for Cyclists — Golden Gate Tops the List
Filed Under: Business
0 Comments
Latest on ncarol.com
- Phoenix Hip-hop Artist Rhymi Hits 23k Monthly Listeners 12 Days After Album Release
- Pediatrician Launches "Confessions of a Detective Doctor" Children's Book Series
- Integrated Maintenance Platforms Are Transforming Aircraft Operations
- T. Jones Group's Cameron Jones Serves as Judge for the 2026 CHBA National Awards for Housing Excellence
- Derek Advanced Tracking Systems Revolutionizes Asset Monitoring with Advanced Technology
- The AI Direction Deficit: TripleTen Study Finds Staff Get Told to Use AI — But Not Trained to Use It
- $29.8 Million Record Setting Q1 with Boosted Annual Guidance to $160 Million for Expanding Pre-Owned Boat Dealer: Off The Hook YS, Inc. N Y S E: OTH
- All About Technology Celebrates 25 Years of Bridging Detroit's Digital Divide
- iatroX surpasses 500,000 clinical queries and expands specialist exam coverage
- Inside-Out Hollywood: The Relentless Rise of Joseph Nybyk (AKA Joseph Neibich)
- Husband-and-Wife Photography Team Brings Personal Approach to Families Across the Triangle
- SRK Collective Media Group Launches with a Modern Approach to Media, Authority Building, and Cultural Visibility
- MSBG Corporation Acquires GridWatch US Telemetry Automation System
- TAYP Expands Athlete Exposure Platform Beyond Georgia With New Push Into Virginia and the 757
- KT Medical Staffing Expands Concierge Nursing and Private Duty Nursing Services in Orange County
- The Millennium Alliance Achieves Great Place To Work® Certification™ Amid Continued Growth
- The Millennium Alliance Appoints Former Adweek Executive Eric Hayden Shakun as Chief Financial Officer to Accelerate Next Phase of Growth
- T. Jones Group Named Finalist Across Multiple Categories at the 2026 Georgie Awards
- Rock & Roll Fan Granted Dream Experience Thanks to Donors and Grant A Dream™ Program
- The Simplest Small Business You're Probably Not Thinking About