ZURICH, Jan 20 (Reuters) - Georg Fischer AG has sold a foundry in Britain to privately-held British company Meade Corp Ltd rather than shut down the plant in Lincoln as first planned, the Swiss manufacturing group said on Tuesday.
It gave no price for George Fischer (Lincoln) Ltd, which will continue to operate with around half the staff of 400.
The foundry has production capacity of around 80,000 tonnes a year and makes iron casting components for the car, tractor and construction machinery sectors.
Fischer said its auto parts division would transfer one of two mould facilities from Lincoln to its plant in Singen, Germany.
The sales completes a series of divestments that Fischer said laid the groundwork for "a rapid and substantial increase in earnings" at the auto parts division.