Related News
Home » Business » Manufacturing
Tyco splits into 3 firms
Source: Agencies |
September 20, 2011, Tuesday
|
Print Edition
Print Edition
UNITED States diversified manufacturer Tyco International said it would split into three independent publicly traded companies, becoming the latest conglomerate to announce such plans.
Consumer companies Kraft Foods Inc, Ralcorp Holdings, finance-to-education conglomerate McGraw-Hill Cos Inc and energy giant ConocoPhillips have announced plans to split their business as conglomerates are falling out of favor with investors.
This is not the first time Tyco has split its business. In 2007, it spun off Tyco Electronics and healthcare company Covidien.
Tyco said its shareholders would own a 100 percent stake in each of the three companies - ADT North America residential security business, flow control products and services and the fire and security business.
The commercial security business and the fire protection segment combined will bring in revenue of about US$10 billion per year. The president of Tyco's fire protection unit, George Oliver, will become the new company's CEO.
The president of Tyco's security solutions segment, Naren Gursahaney, will become the new CEO of its ADT North America residential business that provides security and fire alarm systems in North America. The business may have annual revenue of US$3 billion and is likely to be incorporated in the US.
Patrick Decker, president of Tyco's flow control segment, would take over as the CEO of the third new company that sells valves and controls for the energy markets, general process industries, mining and water markets.
Consumer companies Kraft Foods Inc, Ralcorp Holdings, finance-to-education conglomerate McGraw-Hill Cos Inc and energy giant ConocoPhillips have announced plans to split their business as conglomerates are falling out of favor with investors.
This is not the first time Tyco has split its business. In 2007, it spun off Tyco Electronics and healthcare company Covidien.
Tyco said its shareholders would own a 100 percent stake in each of the three companies - ADT North America residential security business, flow control products and services and the fire and security business.
The commercial security business and the fire protection segment combined will bring in revenue of about US$10 billion per year. The president of Tyco's fire protection unit, George Oliver, will become the new company's CEO.
The president of Tyco's security solutions segment, Naren Gursahaney, will become the new CEO of its ADT North America residential business that provides security and fire alarm systems in North America. The business may have annual revenue of US$3 billion and is likely to be incorporated in the US.
Patrick Decker, president of Tyco's flow control segment, would take over as the CEO of the third new company that sells valves and controls for the energy markets, general process industries, mining and water markets.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
