May 17 (Reuters) - Austin Engineering Ltd (ANG) :
- Entered into binding agreements to sell its cor cooling division to h-e parts group for approximately $14 million.
- Austin will use the proceeds to retire senior debt
- Financial settlement is expected to occur during May 2016, with minimal conditions precedent to closing
- Says notes that its sales and EBITDA are anticipated to be stronger in the second half
- Reaffirms prior guidance range of underlying EBITDA within the range of $8 to $12 million for the year ended 30 June 2016
News: ANG Austin Engineering enters binding agreements to sell its COR Cooling division
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