G.& W. TO SELL DOMINICAN HOLDINGS
In a move that would end nearly 20 years of involvement in the Dominican Republic, Gulf and Western Industries said yesterday that it would try to sell its sugar growing operations and holdings there. ''Sugar no longer fits in with the company's long-term strategic plan to concentrate principally on higher return, consumer-oriented products, financial services and leisure time businesses,'' said Martin S. Davis, chairman and chief executive officer. The company, which a year ago announced write-offs of $470 million to divest itself of several major lines of business, will also end its sugar activities in Florida. Gulf and Western said that the write-down from the sugar operations will reduce third- quarter income by about $30 million.
