JOHNSON PRODUCTS <JPC> SELLS TWO SUBSIDIARIES Johnson Products Co Inc said it completed the sale of Debbie's School of Beauty Culture Inc and the assets of Ultra Precise Beauty Boutique Inc to management. It said the sale price of 2,533,000 dlrs consisted of 700,000 dlrs cash, a secured promissory note for 1,506,000 dlrs and the forgiveness of a debt of 327,000 dlrs owed by Johnson Products to Debbie's School.