Brief: Sypris Solutions to sell certain assets used in co's manufacturing facility in Morganton

Sypris Solutions

10/07/2015 18:03

July 10 (Reuters) - Sypris Solutions Inc  SYPR.O : 
 * Co, units to sell certain assets used in co's manufacturing facility in 
   Morganton, North Carolina, to its largest customer 
 * Proceeds of $14.5 million at closing, and $1.2 million within 30 days of 
   closing, approximated $15.7 million in total 
 * Retained Morganton plant's axle shaft manufacturing lines which will be 
   transitioned to Louisville, Kentucky plant later this year 
 * Buyer purchased related inventories and accounts receivable and other items 
   for $2 million in additional consideration 
 * Some Morganton equipment,related assets and intellectual property were sold to meritor heavy vehicles systems for $10.5 million in cash 
 
 * Source text - http://1.usa.gov/1GcmM9d 
 * Further company coverage  SYPR.O   
 
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