Itron sells gas regulator & European C&I gas metering ops to Dresser for $75M

ITRON, INC.

Sale price $75M; pre-tax loss of $30-40M expected upon close in H1 2022 due to $58-62M FX translation losses.
Restructuring plan approved with $65-75M pre-tax charges ($60-65M cash); $15-20M annual savings targeted by end of 2024.
Cash proceeds estimated at $62-63M; net assets of businesses $35-40M.
Itron employees supporting global gas regulator and European C&I gas meters will transfer to Dresser.
Divestiture includes Itron GmbH (Germany), Argenteuil facility (France), and certain North American contract manufacturing assets.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.