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Rona to divest HVAC and plumbing division in $200+ million deal
Quebec, Canada -- Canadian home-improvement chain Rona Inc. said Thursday it has reached an agreement to sell off its plumbing, heating, ventilation and air conditioning business to Emco Corp. in a deal worth about $207 million.
The division sells plumbing, heating, ventilation and air conditioning systems to commercial and industrial construction customers. The move is expected to add additional financial stability to the company, which is in the midst of a three-year turnaround plan.
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Consumer comfort climbs out of two-month hole
New York -- A report released Thursday by Bloomberg said that consumer sentiment climbed during the week ended June 16 to minus 29.4, compared with minus 31.3 a week earlier and representing a lift after a two-month low. In fact, according to the Bloomberg Consumer Comfort Index, Americans’ views on the economy were the least pessimistic in five years.
The monthly Bloomberg consumer economic expectations gauge for June held at minus 1, matching May’s reading as the best this year.
