Amadeusz Juskowiak

Penril pnl seeks to sell two units

Penril Corp said it is seeking to sell its Triplett Electrical Instrument Corp subsidiary in Bluffton Ohio and Tripletts Alltest division in Hoffman Estates Ill as part of a plan to concentrate on its three profitable division and reduce its debt load

The company also said it is evaluating a plan to satisfy its obligations under its 1078 pct subordinated notes but gave no details Interest on the notes is due today

Penril further said director Clifford L Alexander Jr has resigned from the board It gave no reason

Penril said shareholders at the annual meeting approved the limitation of directors liability

Reuter