Lennox Intl. Announces Planned Sale of Refrigeration Businesses in Australia, Asia, and South America
Lennox International Inc. announced the planned sale of its Australia, Asia, and South America businesses as the company streamlines its refrigeration portfolio to focus on its market position in North America and Europe.
For the sale of the Australia and Asia businesses, the company has signed a binding agreement with Beijer Ref AB. The transaction is expected to close in the second quarter of 2018. Separately, Lennox International is in the process of selling real estate in the Sydney area formerly related to its business operations there. For the sale of the South America business, the company is far along in the process and expects that transaction to be concluded in the second quarter of 2018 as well.