TTI Considering Hoover, Dirt Devil Sale
July 18, 2011,
HONG KONG-TTI Industries has begun to explore the possible sale of its floor-care business, which consists of the long-established Hoover and Dirt Devil brands, under its subsidiary, TTI Floor Care North America.
Responding to press reports, the company issued a statement yesterday saying that it has engaged an unnamed financial adviser to consult on a possible sale. TTI also said it has held "very preliminary discussions with a number of potentially interested parties." The statement also said TTI is considering "various strategic options," which include holding on to the business.