Rockwell deal: '2-way winner.' (Rockwell International Corp. spins off its automotive division)

From: Automotive News | Date: March 24, 1997| Author: Kisiel, Ralph; Sherefkin, Robert | Copyright information

Rockwell International Corp. has spun off its automotive supplies unit to become a stand-alone company with Larry Yost as president and chief executive officer. The $3.1 B automotive division's operating margin for 1996 was 6.9%, higher than those of 1995 and 1994 which were 6.8% and 4.3%, respectively. The spinoff will initially have 16,000 employees and will be a public corporation. Analysts say that Richwell's decision to spin off will make the stand-alone company more interesting to buyer...

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