DAYTON, Ohio (July 11) — Day International Group Inc. has completed the sale of its Textile Products Group to affiliates of Saurer A.G. for $48.8 million.
The group supplies consumable, precision-engineered rubber cots, aprons, compressive shrinkage belts and other fabricated rubber products for the yarn spinning and glass-fiber-forming industries. It posted sales of about $45 million last year and employs roughly 270 at production facilities in Greenville, S.C., and Germany, and sales offices in Italy, Turkey and Hong Kong.
Dennis Wolters, Day president and CEO, said the divestiture will allow the firm to concentrate on its core image transfer business.
Proceeds from the sale will be used to repay long-term debt and invested in growth opportunities within the image transfer sector.