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Stanley Black & Decker (NYSE:SWK) is looking to sell a unit that makes buckets for excavators, Bloomberg News reported Wednesday, citing people familiar with the matter.
The company, which has been selling non-core businesses to focus more on building products, enlisted financial advisers to help find a buyer for its International Equipment Solutions Attachment Group, or IES.
Company management is in an early stage of weighing a sale, and it may decide to keep the unit, the sources told the news outlet. Stanley Black & Decker (SWK) bought IES in 2018 for $690 million.