Brief: Valmont Announces Divestiture Of Its Offshore Wind Business

Valmont Industries

14/11/2022 18:09

Nov 14 (Reuters) - Valmont Industries Inc  VMI.N :
    * VALMONT ANNOUNCES DIVESTITURE OF ITS OFFSHORE WIND
BUSINESS
    * VALMONT INDUSTRIES INC - SIGNS AGREEMENT WITH
DENMARK-BASED EURO
STEEL
    * VALMONT INDUSTRIES INC - ENABLES RENEWABLE ENERGY
MANAGEMENT
TEAM TO FOCUS EXCLUSIVELY ON GROWING SOLAR BUSINESS
    * VALMONT INDUSTRIES INC - PLANS TO UTILIZE NET CASH
PROCEEDS FROM
THIS TRANSACTION TOWARD REPAYMENT OF SHORT-TERM BORROWINGS
    * VALMONT INDUSTRIES- DEAL TO GENERATE GAAP DILUTED LOSS PER
SHARE
OF ABOUT $1.20-$1.45, NEARLY ALL DUE TO NON-CASH ACCUMULATED
CURRENCY TRANSLATION LOSS
    * VALMONT INDUSTRIES INC -  PLANS TRANSACTION TO REFLECT EPS
IMPACT AS A NON-GAAP ADJUSTMENT TO ITS Q4 AND FISCAL YEAR 2022
NET EARNINGS

Source text for Eikon:  ID:nBw2LgZWMa 
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