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GE's plastics unit fetched over $1 billion more than the highest estimate of its value.
In addition to spinning off or selling CIT, Tyco expects to sell its plastics unit by April, Mr. Kozlowski said.
Tyco also received bids in what Mr. Swartz called the first phase of the auction for its plastics unit.
As in the first quarter, Dow's basic plastics unit posted strong results, with sales up 26 percent.
Tyco has suspended its previous plan to sell its plastics unit because it could not find a buyer at a reasonable price, Mr. Kozlowski said.
On Thursday, Tyco reversed plans that it had announced in January to break itself into four stand-alone companies and sell its plastics unit to raise cash.
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The firm cited softer volume in several of its businesses as well as weaker profit margins in its basic chemicals and plastics units.
Sabic, a major Saudi petrochemical company, bought the plastics division of General Electric for $11.6 billion, and the Kuwait Petroleum Corporation bought half of Dow Chemical's commodity-plastics unit for $9.5 billion.
A blue plastic unit about the size of a small wristwatch, the device is worn inside the cap or on the goggle strap.
If the ad spaces are filled all through the year, they could bring the city $90,000 some help in reducing next year's projected $5 billion deficit.Each meter will be fitted with a three- or four-sided plastic unit, about half-way down the pole, which advertisers will rent from Snap Marketing or Park Place Media.
Rutamu, a development officer with the Tanga Dairy Development Programme in Tanzania, was testing a plastic unit that cost only US$50.
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