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Garlock Sealing Technologies Reports Fourth Quarter 2010 Results

Monday, February 21, 2011  
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Third party sales at Garlock Sealing Technologies (GST) and its subsidiaries were $45.1 million in the fourth quarter of 2010, an improvement of 14% from the levels of a year ago, when those businesses were included in EnPro's consolidated results. GST and its subsidiaries benefited from increased demand from the steel industry, process industries and other markets in North America as general economic conditions grew stronger. Higher volumes, improved pricing and the absence of restructuring costs in 2010 benefited GST's operating profits, which improved by 18% to $5.9 million, while operating profit margins grew to 13.1% in 2010 from 12.6% in the fourth quarter of 2009. GST's operating profit and operating profit margins do not reflect expenses of $5.4 million incurred in connection with the asbestos claims resolution process. More…

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