Tyco Intl. Ltd., Pembroke, Bermuda, has announced it will split into four independent, publicly traded companies: Security and Electronics; Heathcare; Fire Protection and Flow Control; and Financial Services.
The company says it will complete the planned transactions by the end of 2002. All four branches will remain headquartered in Bermuda.
The Security and Electronics unit posted 2001 revenues of approximately $17.6 billion. Dennis Kozlowski will be chairman and CEO, and Mark Swartz will be CFO of the unit.
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