SLI to Sell Some Assets as Part of Debt-Reduction Plan

SLI (SLI Quote) is selling some of the assets of its SLI Lighting Solutions unit to Amtech Lighting Services and will also sell its remaining interest in Schott-Fostec to the U.S. division of Germany's Schott Group.

Amtech Lighting, a unit of ABM Industries (ABM Quote), will acquire the maintenance operations of SLI Lighting Solutions in a cash transaction. The details of the sale weren't disclosed, and neither company could be reached for comment.

In a separate deal, SLI, which makes lighting and illumination products, said it will sell its remaining 40% interest in Schott-Fostec to specialty glass producer Schott.

SLI, which is based in Canton, Mass., said the sales are part of its effort to reduce its debt by $100 million this year. Shares of SLI lost 5 cents to $8.15 in recent New York Stock Exchange trading.