Brief: Schmitt Industries Reaches Agreement To Sell SBS Business Line For $10.5 Mln
10/10/2019 18:26
Oct 10 (Reuters) - Schmitt Industries Inc SMIT.O :
* SCHMITT INDUSTRIES REACHES AGREEMENT TO SELL SBS BUSINESS
LINE
FOR $10.5M
* SCHMITT INDUSTRIES - ENTERED INTO AGREEMENT TO SELL ITS
SCHMITT
DYNAMIC BALANCE SYSTEMS BUSINESS LINE TO TOSEI ENGINEERING CORP
& TOSEI AMERICA INC
* SCHMITT INDUSTRIES INC - TOSEI LEASES CO'S 28TH STREET
PROPERTY
FOR 10-YRS
* SCHMITT INDUSTRIES - DEAL IS EXPECTED TO CLOSE IN Q4 OF
CALENDAR
YEAR 2019 FOLLOWING A 30-DAY GO SHOP PERIOD
Source text for Eikon: ID:nGNX29VfsX
Further company coverage: SMIT.O
((Reuters.Briefs@thomsonreuters.com;))
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