Plumbing and Mechanical

U.S. Industries Looking To Sell Non-Kitchen & Bath Holdings

August 31, 2001
U.S. Industries Inc. has reached an agreement with its lenders on the terms of a comprehensive restructuring plan of its bank debt and the bank debt of Rexair Inc., which is guaranteed by U.S. Industries. The company said it is accepting bids from potential purchasers of its businesses outside its core bath and plumbing operations, and expects to evaluate competing offers and determine a course of action that would maximize value.