Carlyle's Sequa Said to Burn Through 44% of Cash; Loans PlungeBy
Aerospace parts repairer has about $45 million of cash left
Ebitda plunges 26.5% to $38.9 million in second quarter
Sequa Corp., an aerospace parts servicer controlled by Carlyle Group LP, burned through nearly half of its cash in the second quarter as earnings tumbled and a recently acquired unit ran into trouble, according to three people with knowledge of the company’s performance.
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