Thule Group has signed an agreement to sell its snow chain business to an Austrian-based company, Schneeketten. The divestment will allow Thule to focus more on its core outdoor and bags segment. The company's board of directors has initiated a strategic review of the remaining businesses in its Specialty segment, which includes workwear and tool boxes for pick-up trucks. Its snow chain division posted sales of 136 million Swedish kronor (€14.6m-$16.5m) in 2014, generating a loss. Its staff of 145 people are mostly employed at a production site in Molteno, Italy.
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