BLUE BELL, Pa. (AP) - C&D Technologies Inc. said Wednesday it agreed to sell its electronic power supplies and converters division to Japan's Murata Manufacturing Co. for $85 million in cash.
C&D said it sold the unit to raise cash in an effort to reduce debt and invest in its power systems business. Power electronics had sales of $185 million a year.
Murata, based in Kyoto, makes ceramic-based components used in electronics.