MISCOR Group, Ltd. has sold its AMP-Montreal business unit to Novatech, Inc., in a $1.5 million deal.
The sale is part of MISCOR's recently announced restructuring plan to sell off its non-core businesses to focus on its industrial services business. The restructuring plan calls for MISCOR to divest its remaining subsidiaries in the rail services segment, as well as its construction services subsidiaries, allowing MISCOR to concentrate on industrial and utility services.
"We see long-term growth opportunities in the industrial services segment, including the wind and utility markets, as well as the heavy industrial market we have traditionally served," said John A. Martell, president and CEO of MISCOR Group.
MISCOR has retained Western Reserve Partners LLC, based in Cleveland, to assist with the divestiture of its remaining rail services subsidiaries, which include American Motive Power and HK Engine Components.