1 National Intergroup Inc. said it expects to report a charge of $5.3 million related to the sale of its aluminum unit's extrusion division for the third quarter.
2 The company said it has agreed to sell the extrusion division for $15 million to R.D. Werner Co., a closely held firm based in Greenville, Pa.
3 The charge is offset by an after-tax gain of about $30 million in the quarter from the previously announced pact to sell National Aluminum's rolling division.
4 National Intergroup in the year-ago third quarter earned $22.5 million, or 97 cents a share, including a gain of $18 million from the sale of a steel tube company.
5 Revenue was $778.6 million.
6 The company also said it continues to explore all options concerning the possible sale of National Aluminum's 54.5% stake in an aluminum smelter in Hawesville, Ky.
7 The sale of the extrusion division is subject to audit adjustments for working capital changes through the closing.
8 The agreement also provides for potential payments of additional proceeds to National Aluminum over the next two years, depending on the plant's shipping levels.
9 The extrusion unit produces bare and painted custom extrusions for building products and construction industries.
10 In fiscal 1989, it had sales of about $40 million and an operating loss of $1.5 million.

National Intergroup in the year - ago third quarter earned $ 22 . 5 million , or 97 cents a share , including a gain of $ 18 million from the sale of a steel tube company .
$ 18 million from the sale of a steel tube company
Why are they selling off so much of their business?