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Financially troubled AM International Inc. has signed an agreement to sell its Sheridan Systems Division assets to Heidelberger Druckmaschinen AG of Germany for $50 million. The buyer agreed to assume all of Sheridan’s liabilities.
The division is located principally in Dayton, Ohio, and Slough, England. Rosemont-based AM International manufactures office machinery, bindery equipment and newspaper mail-room machinery.
AM said it intends to use the proceeds from the transaction to reduce liabilities and provide working capital.
