 CIRCOR International, Inc. NYSE:CIR today announced that on June 5, 2020 its subsidiary, CIRCOR Energy Products LLC CEP, signed a definitive agreement to dispose of its loss-making short-cycle upstream oil and gas business, Distributed Valves, to MS Valves GmbH for negative 8.25 million. The transaction is subject to a working capital adjustment and an earnout of 50 of net profit from closing through December 31, 2022. As part of the transaction, CEP will retain certain supplier liabilities and responsibility for closing the Mexico manufacturing facility. The transaction is expected to close in June 2020, subject to customary closing conditions. 