is selling some of the assets of its
SLI Lighting Solutions
United Rentals Upgraded to Buy at UBS on Biden Infrastructure Plan
Joe Biden's infrastructure plan would lead to a 'faster-than-expected recovery' in United Rentals’ business, UBS said, upgrading the stock.
Amtech Lighting Services
and will also sell its remaining interest in
to the U.S. division of Germany's
Amtech Lighting, a unit of
, 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