Tyco International buying finance firm CIT.(Brief Article)

Plastics News,  March, 2001  by Lauzon, Michael

Tags: finance, plastics, Tyco International Ltd.

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The parent company of plastic film and sheet major Tyco Plastics and Adhesives Group is buying finance company CIT Group Inc. to help fund growth and provide customer credit. Tyco International Ltd. has agreed to swap stock to buy CIT, the largest independent commercial finance company in the United States.

CIT counts many plastics companies as customers and is known for its annual, midyear analysis of the U.S. plastics industry economy. L. Dennis Kozlowski, Tyco chairman and chief executive officer, said his firm has evaluated ways to create internal financing capability. It ...

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