A. O. Smith has found its way out of China, or most of the way. The Milwaukee water heater and boiler maker said late on October 27 that CPE, an alternative asset manager, will buy 81% of A. O. Smith (China) Investment Co., the holding company for its Chinese operations. A. O. Smith keeps 19%, licenses its brand to the new owner for decades, and collects royalties along the … [Read more...] about A. O. Smith Sells 81 Percent of Its China Business to CPE at a Valuation Below One Year of Sales