Kirloskar Oil to hive off valves unit

New Delhi, Apr 30: Kirloskar Oil Engines Ltd today said it has entered into a sale agreement with Eaton Industrial Systems Pvt Ltd to hive off its valves division for up to Rs 90 crore.

Kirloskar Oil, in a statement, said ''US-based Eaton Corp will be the guarantor, and the sale of the valves division will be for an amount not exceeding Rs 90 crore.'' Eaton Industrial Systems is the Indian unit of Eaton Corp. The valves division of the company's auto components business is at Ahmednagar and Nashik, it added.

UNI