Material Sciences sells plant

ELK GROVE VILLAGE - Material Sciences Corp., a provider of material-based solutions for acoustical and coated metal applications, Thursday said it completed the sale of its Middletown, Ohio, plant and coil coating equipment to NCI Group of Houston, Texas, for $4.9 million in cash. Material Sciences idled operations at the Middletown plant about six years ago. "We continue to sell noncore assets as part of our long-term growth strategy and received an attractive offer from NCI," said Clifford D. Nastas, chief executive officer. This is the company's second asset sale this year. In April, It sold certain coil coating assets in one of its Elk Grove Village plants for $10 million. In February, the company had $12.9 million in cash and no long-term debt. Nastas said "reinvestment in growth platforms continues to be a priority."