Blount International Sells Gear Products, Inc. for $25M

Blount International, Inc.

today announced the simultaneous signing and closing of the sale of its indirect wholly-owned subsidiary Gear Products, Inc. Blount sold all of the stock of Gear to Tulsa Winch, Inc., an operating unit of Dover Industrial Products, Inc. for approximately $25 million in cash, subject to certain adjustments. Founded in 1957, Gear is a manufacturer of mechanical power transmission components for original equipment manufacturers, serving the utility, construction, forestry, marine, and mining markets. Approximately 60 people are employed at Gear's Tulsa, Oklahoma facility.