CHARLOTTE, N.C.–(BUSINESS WIRE)–EnPro Industries, Inc. (NYSE: NPO) today announced that it has closed the previously announced sale of all assets related to the STEMCO Motor Wheel® brake drum and Crewson® brake adjuster brands (collectively the “business”), to Hendrickson USA, LLC. EnPro announced the agreement to sell all assets related to the business on August 14, 2020.
The completion of this transaction supports EnPro’s journey of reshaping its portfolio towards businesses with compelling margins, leading technology, and high cash flow return on investment in markets with favorable secular tailwinds; allocating capital to maximize long-term shareholder returns; increasing aftermarket exposure and recurring revenue opportunities; and leveraging the EnPro Operating System for continuous improvement to increase margins and cash flow return on investment.
About EnPro Industries
EnPro Industries, Inc. is a niche provider of precision components, solutions, and services with a well-diversified customer base. For more information about EnPro, visit the company’s website at http://www.enproindustries.com.
Contacts
Investor Contact:
Chris O’Neal
Senior Vice President – Strategy, Corporate Development and Investor Relations
Phone: 704-731-1527
Email: investor.relations@enproindustries.com
