GULF APPLIED &lt;GATS> SELLS UNITS, SEES GAIN

  Gulf Applied Technologies Inc said it
  sold its pipeline and terminal operations units for 12.2 mln
  dlrs and will record a gain of 2.9 mln dlrs in the first
  quarter.
      It added that any federal taxes owed on the transaction
  will be offset by operating loss carryovers.
  

