AMHERST, N.Y. (July 31)—Mark IV Industries Inc. signed a letter of intent July 26 with an undisclosed buyer to sell the assets of the Dayco Industrial global fluid management portion of its business. A letter posted on the Dayco Products Web site said the company signed the letter with a strategic buyer and will immediately begin a formal due diligence process. The buyer and sale price were undisclosed, but President Richard Bing said the buyer of the segment is industrial-related. "We view this as very positive as the potential buyer is a significant player in many common markets and they are intent on growing and investing in our fluid management business," Bing said in the letter. Dayco Industrial´s fluid management segment produces fluid power, hydraulic hoses and couplings. and air, water, chemical and petroleum transfer hoses. Mark IV has yet to name the buyer of its industrial global power transmission belting business. The firm signed a letter of intent with an unnamed buyer for the sale of the assets of the business June 12.
Mark IV to sell Dayco fluid management business
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