Tyco International Ltd., which is splitting itself into three separate, publicly traded companies, has ended rampant speculation by announcing that it will sell its Power Systems Unit.
Tyco issued the following statement to its suppliers, "After conducting a thorough evaluation of the strategic alternatives for our Power Systems business, we have decided to pursue the divestiture of the Tyco Electronics Power Systems business, including our Tyco Electronics Installation Services and Electronics Modules units. We have not yet selected a buyer for the business, but expect to complete the sale within the next year."
The company also stated that, once a buyer is selected, it will strive to ensure a smooth transition to the new ownership group.
Tyco had recently announced a number of operational leadership appointments in preparation for the separation into three companies. The organizational changes were to align Tyco International’s operational leadership with the company’s post separation structure consisting of ADT Worldwide, Fire Protection Services, Flow Control, Safety Products, and Electrical and Metal Products.
