United Technologies Corp. is selling a Texas manufacturing business to the Washington Post Co., the latter announced.
Hartford-based UTC is selling Forney Corp., a Texas supplier of combustion components for electric utility and industrial applications.
The purchase price was not disclosed. The deal is expected to close in August.
Forney represents a new market area for the Washington Post, which has spread investments beyond the media and broadcast space into social media, health care and for-profit education enterprises.
Donald E. Graham, chairman and CEO of the Washington Post Co., said the purchase is about diversifying the company’s investments.
“Forney is a small acquisition that fits with our decentralized operating philosophy,” Graham said. “We are a diverse group of businesses sharing common goals and values but each with its own identity and workplace culture, and with management responsible for its operations.”
