Tyco to Break Off 2 Units, Leave Fire and Security With Company
PEMBROKE, Bermuda — A conglomerate break-up of Tyco Int’l will leave the firm’s fire and security brands as the primary businesses for the company.
The board of directors for Tyco voted Jan. 12 to break up the conglomerate into three separate companies. Tyco’s electronics and health care businesses are being spun off into two separate companies. Remaining with Tyco will be its valve and fire and security businesses that include such prominent names as ADT, Sensormatic, American Dynamics and DSC.
Tyco will spend the remainder of the year as one company, as the break-up isn’t expected to occur until early 2007.
Current Tyco CEO Ed Breen will lead the new Tyco. The security and fire companies will make up the clear majority of the firm’s business.
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