Barlo has sold its Newbridge-based strapping business for €5.2 million.
The business involves the manufacture and sale of polypropelene straps together with the distribution of strapping machines and other strapping-related products.
The business has been sold to ITW Ireland, a subsidiary of ITW, a US-headquartered and publicly quoted manufacturing company. ITW has annual sales of about $10 billion and 55,000 employees worldwide.
The group is selling the trade, together with the "Sealstrap" trade name, and relevant net assets of the business, but it will still own the Newbridge site from which it operates.