EnPro agrees to sell GGB to Timken for $305M; exits Engineered Materials segment

Enpro Inc.

Agreed to sell GGB to Timken for $305M cash, expected close by year-end subject to regulatory approvals and works council processes.
EnPro to exit Engineered Materials segment by end of 2022; GPT strategic review underway; segment to be classified as discontinued operations in Q3.
After-tax net proceeds from GGB and any GPT sale expected ~$290M, to be used for debt reduction, organic growth, and acquisitions.
Will Abbey elected to Board of Directors; brings 25+ years semiconductor industry experience.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

William Abbey

director

NPO · Enpro Inc.

Effective: 2022-09-05
Filed: September 6, 2022, 7:59 PM ET

On September 5, 2022, the Board of Directors of the Company adopted a resolution expanding the size of the Board of Directors from ten to eleven and elected William Abbey as a director of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

William Abbey was elected as director at Enpro Inc..

Action: elected
Role: director

Exact text from the filing

On September 5, 2022, the Board of Directors of the Company adopted a resolution expanding the size of the Board of Directors from ten to eleven and elected William Abbey as a director of the Company.

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Enpro Inc. filing history →

Source: SEC EDGAR

accession 0001140361-22-032289

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