Tomkins to sell its European food manufacturing units

LONDON (July 24)—Tomkins P.L.C., parent of the Gates Rubber group of companies in the U.S., said it has entered into an agreement to sell its European food businesses to Doughty Hanson & Co. for $1.71 million. The agreement follows the July 14 sale of Tomkins´ Red Wing food concern in the U.S., as the English-based manufacturer strives to focus on its engineering businesses.