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Brady Corp. (NYSE: BRC), Milwaukee, WI, has agreed to sell its die-cut business to Boyd Corporation, a global business headquartered in Modesto, CA, that specializes in custom fabricated sealing and energy management solutions.
The die-cut business, with sales of about $192 million in the fiscal year ended July 31, 2013, consists of the manufacture and sale of precision converted products such as gaskets, meshes, heat-dissipation materials and similar products sold primarily to the electronics industry and other traditional die-cut parts and thermal management products used in the automotive electronics and telecommunications industries.
The company believes the die-cut business is no longer a good fit in its portfolio and that both customers and employees in that business will be better served under an owner with die-cut products as part of its core offering. Brady intends to focus on its identification solutions and workplace safety businesses.