Brief: Nextil Sells Production Facilities Of U.S. Subsidiary Elastic Fabrics Of America

Nueva Expresion Textil SA

02/01/2024 14:38

Jan 2 (Reuters) - Nueva Expresion Textil SA  NXTE.MC :
    * SELLS PRODUCTION FACILITIES OF ITS SUBSIDIARY ELASTIC
FABRICS OF
AMERICA INC. LOCATED IN NORTH CAROLINA, USA
    * AMOUNT OF TRANSACTION WILL GENERATE CAPITAL GAINS OF ABOUT
3.2
MILLION EUROS BEFORE TAX AND WILL REDUCE GROUP'S FINANCIAL DEBT
BY 4.5 MILLION EUROS WITH IMMEDIATE EFFECT
    * WILL REMAIN AT THE DIVESTED FACILITIES UNTIL MARCH 2024,
WHEN IT
WILL START PRODUCTION IN GUATEMALA
    * DIVESTMENT CULMINATES NEXTIL'S STRATEGIC OBJECTIVE OF
CONCENTRATING ALL OF ITS INDUSTRIAL WEAVING ACTIVITY IN
GUATEMALA

Source text for Eikon:  ID:nCNM4YrVPW 
Further company coverage:  NXTE.MC 

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