COLT INDUSTRIES <COT> TO SELL BRITISH UNIT Colt Industries Inc said it signed a conditional agreement to sell its Woodville Polymer Engineering Ltd subsidiary in Great Britain to the Dowty Group PLC of Gloucestershire, England, for 35.9 mln stg. The deal is scheduled to close by the end of June, the company said. Woodville, which makes high technology precision products for aerospace, automotive and other industries, had 1986 sales of about 24 mln stg, it said.