Cameron has announced a US?$850 million sale of its centrifugal compressor business line to Ingersoll Rand. Cameron says it finalised a definitive agreement for the sale following a review of its long-term business strategy to focus on core markets. Completion of the deal is forecast by the year end and it is forecasting after-tax proceeds from the sale of US $600 million. Last year the Centrifugal Compression business had revenue of $396 million. Net proceeds will be used to finance stock repurchases.
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