Caradon, which recently signed a US$220 million aluminium extrusions deal with Hong Kong's Global Applied Technologies Holdings, has called an extraordinary general meeting on January 19 to reject shareholder calls to sell two-thirds of its business. UK Active Value Fund, which owns 10 per cent of Caradon, has asked the management to identify one of its three divisions - building services, aluminium products and security-printing services - as a core business and sell the remaining operations. A Caradon spokesman said it was not clear which businesses Active wants the company to sell. 'It's like tossing a coin. Theoretically it could be any of those three,' he said. Caradon, soon to be renamed Novar, was said to favour the division it calls Intelligent Building Systems - a group of firms involved in electronics and security equipment. But the company recently announced improved performance in its Security Printing Services, and offered a positive forecast in aluminium arm Indalex Aluminium Solutions (IAS) despite a recent slowdown in some segments of the extrusions market. In October, IAS signed a deal with Global subsidiary China Aluminum Group to buy 90,000 tonnes of aluminium extrusion products worth US$220 million.