LONDON (May 12)—Laird Group P.L.C. has appointed the British investment bank Lazard to advise it on ways of "maximizing the value" of its automotive businesses, Laird said today at its annual general meeting. Addressing speculation it might divest its automotive seals business—known collectively by the Draftex name—Laird said hiring Lazard is linked to the falling value of engineering company shares and the need to enter higher growth markets. Laird´s automotive components businesses represent more than 40 percent of Laird´s consolidated sales, or $765 million in fiscal 1999.
Investment bank to advise Laird on auto businesses
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