SAN JOSE, Calif. -- Advanced Energy Industries Inc. has entered into an agreement to sell its Aera mass flow control and related product lines and real property in Japan to Hitachi Metals Ltd., part of Hitachi Metals Group, for $44 million in cash.
The Aera product lines had sales of $11.9 million in the first quarter of 2010 and $15.1 million in the second quarter of 2010.
Advanced Energy announced financial results for the second quarter ended June 30, 2010. Total sales for the second quarter were $115.2 million, representing an all-time high for the company in a single quarter and producing earnings of $0.31 per diluted share.
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