Steel Partners sells more than 253,000 shares of EnPro, reduces ownership to 8.2%

By Lisa Kerner

Charlotte, N.C., June 9 - Steel Partners II, LP continued its sell off of EnPro Industries, Inc. with the sale of 253,459 shares from June 3 through June 6 priced from $40.01 to $40.22 each.

The transactions were reported in a schedule 13D filed with the Securities and Exchange Commission.

Between May 30 and June 2, Steel Partners sold 521,730 EnPro shares and kept a 9.5% stake in the company, a prior SEC filing said.

Steel Partners beneficially owns 1,658,649 shares, or 8.2% of EnPro.

On April 11, EnPro and Steel Partners announced an agreement to settle the contested election of directors at the 2008 annual meeting of EnPro shareholders on April 30.

Under the agreement, EnPro agreed to expand its board of directors to nine members from eight with the addition of Don DeFosset, the former chairman, president and chief executive officer of Walter Industries, Inc., following the company's 2008 annual meeting, it was previously reported.

EnPro agreed to submit for shareholder approval at the meeting an amendment to the company's charter that would repeal the charter's classified board provision.

Charlotte, N.C.-based EnPro makes sealing products, bearings, compressors and engines.

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