Furon Hires Bankers to Develop Strategy

Furon Co., the Laguna Niguel-based maker of high-tech plastics for industrial and health care products, said Monday it has retained an investment banking firm to explore financial strategies for its Dekoron wire and cable products units, including possibly selling the business.

The move to hire ING Baring Furman Selz stems from Furon’s decision to concentrate on its core businesses, said J. Michael Hagan, Furon’s chairman and chief executive. He said the company isn’t looking at selling or spinning off any other business units.

Dekoron, which employs about 110 at plants in Ohio, Florida and Texas, reported $29 million in sales for its fiscal year ended Jan. 31. The company makes instrumentation and control cable, and heating products used primarily in process industries such as petrochemical refining, pulp and paper milling and mining.