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Author: davidausa Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 26  
Subject: News and a Price Drop Date: 10/1/1999 11:28 AM
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I don't know why this press release has caused a 30% drop in price, but I will be looking into it:

York International Announces Sale of Performance Contracting Business
Yesterday

YORK, Pa., Oct. 1 /PRNewswire/ -- York International Corporation (NYSE: YRK) today announced the closing of the sale of its performance contracting business, Viron Corporation, to CMS Marketing Services and Trading Company, a CMS Energy Corporation (NYSE: CMS) company. The purchase price was not disclosed, but YORK indicated the sale will result in a pretax gain of approximately $10 million.

In making this announcement, Robert N. Pokelwaldt, Chairman and Chief Executive Officer, commented: "As part of our ongoing review of our business portfolio, we determined that this business was not a long term strategic fit for our company."

York International Corporation is a full-line, global manufacturer of heating, ventilating, air conditioning and refrigeration (HVAC&R) products. York is the largest independent supplier of HVAC&R equipment in the United States and a leading competitor in the industry internationally. The Company's products are sold in more than 100 countries and York has approximately 25,000 employees worldwide.

CONTACT: Helen S. Marsteller of York International, 717-771-7451. SOURCE York International Corporation

-0- 10/01/1999

/CONTACT: Helen S. Marsteller of York International, 717-771-7451/

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