Sept 4 (Reuters) -

Industrial products maker Fortive ( FTV ) on Wednesday said

it plans to spin off its Precision Technologies segment,

creating two independent, publicly traded companies.

Following the completion of the spin-off, the new

company will consist of the brands currently operating under its

Precision Technologies segment.

Meanwhile, Fortive ( FTV ) will continue to operate its

portfolio brands under the Intelligent Operating Solutions and

Advanced Healthcare Solutions business segments.

Shares of the Everett, Washington-based company were up

3% in aftermarket trade.