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Asbestos claims hinder UIC sale.
Byline: Ron Orol
United Industrial Corp. reiterated in a shareholder note Wednesday, Nov. 27, that asbestos litigation is hampering its ability to sell the company but that its defense and training systems operations are experiencing strong sales.
The New York-based maker of unmanned aerial vehicles announced in April it was seeking a sale of the firm. But pending asbestos-related lawsuits associated with UIC's energy subsidiary, Detroit Stoker, are scaring away potential bidders. …
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