Brief: Aimia's Tufropes Unit To Buy Cortland Industrial For $26.6 Mln

AIMIA ( Canada )

11/07/2023 20:22

July 11 (Reuters) - Aimia Inc  AIM.TO :
    * AIMIA'S TUFROPES SUBSIDIARY TO ACQUIRE CORTLAND INDUSTRIAL
FOR
$26.6 MILLION
    * AIMIA INC - COMBINED BUSINESS TO OPERATE UNDER CORTLAND
INDUSTRIAL NAME
    * AIMIA INC - TRANSACTION WAS FUNDED WITH CASH ON HAND
    * AIMIA INC - TUFROPES PLANS TO RETAIN 100% OF CORTLAND
EMPLOYEES,
WHO ARE PREDOMINANTLY BASED IN U.S.
    * AIMIA INC - DEAL IS IMMEDIATELY ACCRETIVE TO EARNINGS AND
PROVIDES A U.S. FOOTPRINT FOR TUFROPES, AS WELL AS NUMEROUS
SALES AND OPERATIONAL SYNERGIES

Source text for Eikon:  ID:nCNWyhj4ta 
Further company coverage:  AIM.TO 

 ((Reuters.Briefs@thomsonreuters.com;))