Implementing a business improvement plan designed to boost margins and increase cash flow, U.S. Industries Inc. announced plans to spin off its industrial tools and lighting businesses into a separate division. The new company will be made up of U.S. Industries’ Lighting Corp. of America unit; SiTeco, a lighting fixtures manufacturer based in Europe; and Spear & Jackson, which makes industrial hand tools. After the spin-off, U.S. Industries will concentrate on its consumer products businesses, including whirlpool maker Jacuzzi and plumbing products makers Zurn and Eljer. The company said that it had evaluated several options, including a divestiture of its lighting and industrial tool operations, before deciding on a spin-off. U.S. Industries’ lighting division makes commercial and residential indoor and outdoor lighting products. Its tools and hardware division makes hand and lawn and garden tools and industrial products through its O. Ames, True Temper, and Spear & Jackson units.
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