Amcast Industrial Corp. said it has signed a definitive agreement to sell most of the assets of its Flow Control division to a U.S. subsidiary of the Dutch group Aalberts Industries N.V. (Amsterdam:AAL). The transaction, which is subject to regulatory approval and customary closing conditions, was anticipated to close by early August.

The sale of the Flow Control products segment includes the businesses of Elkhart Plumbing (Elkhart, Ind. & Fayetteville, Ark.), Elkhart Industrial (Geneva, Ind.), and Amcast Industrial Ltd. (Burlington, Ontario).

This asset sale is being made to comply with the provisions of the company's loan agreements. The proceeds will be used to reduce debt.