ACHRNEWS

Lennox Completes Sale Of Joint Venture

June 17, 2005
DALLAS - Lennox International Inc. has completed the sale of its 45 percent interest in the heat transfer joint venture with Outokumpu Copper Products OY of Finland for $39.3 million.

Nearly three years ago, Lennox and Outokumpu announced a joint venture, with Outokumpu initially purchasing a 55 percent interest in Lennox's heat transfer business segment for $55 million.

"Outokumpu's purchase of Lennox's remaining interest in the heat transfer business joint venture allows us to further focus our energy and resources on our three core businesses: heating and cooling, refrigeration, and Service Experts," said Bob Schjerven, Lennox chief executive officer.

Publication date: 06/20/2005