Furon Co.: The Laguna Niguel company said...

Furon Co.: The Laguna Niguel company said Wednesday that it has agreed to sell its metallic gasket business in Houston to Garlock Mechanical Packing of Palmyra, N.Y., a division of Coltec Industries Inc. “Garlock, with its extensive U.S. and international sales force, is better equipped to fully develop the maintenance-and-repair market segment for high-temperature gaskets,” said J. Michael Hagan, chairman and chief executive of Furon, which manufactures engineered polymer components. Terms were not disclosed. The companies said that the transaction is scheduled to close by the end of the year.