Brief: TPI Composites Announces Agreement To Divest Automotive Business Unit As Part Of Continued Focus On Wind

TPI Composites

17/06/2024 23:37

June 17 (Reuters) - TPI Composites Inc  TPIC.O :
    * TPI COMPOSITES ANNOUNCES AGREEMENT TO DIVEST AUTOMOTIVE
BUSINESS
UNIT AS A PART OF CONTINUED FOCUS ON WIND
    * TPI COMPOSITES INC - AS PART OF DIVESTITURE TRANSACTION,
TPI
WILL SELL ITS AUTOMOTIVE SUBSIDIARY TO CCI, WHICH WILL BE
RENAMED SENVIAS™ INC.
    * TPI COMPOSITES INC - TRANSACTION IS EXPECTED TO CLOSE ON
JUNE
30, 2024
    * TPI COMPOSITES INC - DIVESTITURE IS EXPECTED TO IMPROVE
MONTHLY
CASH FLOW BY ABOUT $1.7 MILLION OVER BALANCE OF 2024
    * TPI COMPOSITES INC - ENTERED INTO A DEFINITIVE AGREEMENT
TO
DIVEST ITS AUTOMOTIVE BUSINESS TO CLEAR CREEK INVESTMENTS, LLC

Source text for Eikon:  ID:nGNX77yN2d 
Further company coverage:  TPIC.O 

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