Tice Technology Inc is to sell its industrial sewing machine business, Tice Engineering and Sales Inc, to the company's founder, William A Tice. The deal is expected to be completed by July 31, 2001 and depends on Mr Tice securing working capital financing. In addition to assuming certain liabilities of Tice Engineering and Sales, Mr Tice will transfer approximately 4.5 million common shares of Tice Technology to the company.