Brief: Stoneridge Sells Non-Core Switches, Connectors Product Lines To Standard Motor Products

Stoneridge

01/04/2019 22:22

April 1 (Reuters) - Stoneridge Inc  SRI.N :
    * STONERIDGE ANNOUNCES DIVESTITURE OF NON-CORE SWITCHES AND
CONNECTORS PRODUCT LINES TO STANDARD MOTOR PRODUCTS
    * STONERIDGE INC - WILL RETAIN AND RECOGNIZE APPROXIMATELY
$5
MILLION IN VALUE RELATED TO RETAINED NET WORKING CAPITAL ASSETS
OF SOLD BUSINESS
    * STONERIDGE INC - STONERIDGE WILL RETAIN CANTON,
MASSACHUSETTS
MANUFACTURING FACILITY
    * STONERIDGE INC - DIVESTITURE IS EXPECTED TO REDUCE 2019
ADJUSTED
EARNINGS PER SHARE BY $0.15 - $0.20
    * STONERIDGE- DIVESTITURE, RELATED CANTON MANUFACTURING
FACILITY
CLOSURE EXPECTED TO HAVE LOSS OF $0.05 TO INCOME OF $0.00 EPS
IMPACT IN 2020

Source text for Eikon:  ID:nPn8psgJJa 
Further company coverage:  SRI.N 

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