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Textron has agreed to sell its Bostitch division.

January 28, 1986

The unit will be sold to Stanley Works for $193 million, Textron officials said. The sale is part of Textron's plan to reduce its debt following its $1.17-billion purchase of Avco Corp. in 1985, according to B. F. Dolan, Textron's president and chief executive. Bostitch, which has 3,300 employees worldwide, is a leading producer of stapling and nailing tools and fasteners for consumer, industrial and commercial uses.

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