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Article: Ralston Purina Co. Agrees to Sell its Protein Technologies International Unit.(Originated from The Commercial Appeal, Memphis, Tenn.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 25, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug. 25--Ralston Purina Co. said Friday that it has agreed to sell its Protein Technologies International unit to DuPont Co. for $1.5 billion in a tax-free transaction.
The deal includes the Protein Technologies plant in Memphis as well as plants in Pryor, Okla., Louisville, Ky., Hager City, Wis., and Ieper, Belgium. The food and fiber subsidiary has annual revenue of about $450 million with about half of its sales generated outside the United States.
With shareholder and regulatory approval, Wilmington, Del.-based DuPont will trade its stock and deduct certain liabilities for Protein Technologies' worldwide assets. Company officials said the ...