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Nitin Fire: To Sell Majority Stake In Unit To Worthington Industries

MUMBAI -(Dow Jones)- Nitin Fire Protection Industries Ltd. (532854.BY) said Wednesday it will sell a majority stake in its cylinder manufacturing unit to U.S.-based Worthington Industries Inc. (WOR) for about $21 million. Nitin Cylinders Ltd. operates a facility in India's Andhra Pradesh state with an installed capacity to make 500,000 cylinders a year, Nitin Fire said in a statement. The maker of fire protection and safety equipment didn't give any other details. -By Anirban Chowdhury, Dow Jones Newswires; 91-22-61456108;

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