Lennox Announces Definitive Agreement To Sell European Process Cooling Business To Glen Dimplex; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Lennox (NYSE:LII) has announced a definitive agreement to sell its Hyfra Process Cooling business unit to the Glen Dimplex Group. The transaction is expected to be completed in Q4 2023. The divestment is part of Lennox's strategy to focus on North America to achieve its revenue growth and profit margin targets.
August 25, 2023 | 1:01 pm
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Lennox's sale of its Hyfra Process Cooling business to Glen Dimplex Group is part of its strategy to focus on North America. This could potentially streamline operations and improve profitability.
The sale of the Hyfra Process Cooling business could potentially streamline Lennox's operations and allow it to focus on its core markets, which could lead to improved profitability. However, the impact of this sale on the company's overall financial performance will depend on how effectively it can execute its North America-focused strategy.
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