Wire
Dorel Industries Sells its Tiffin, Ohio, Facility
Dorel Industries (DII-B.TO) sold its facility in Tiffin, Ohio, for net proceeds of approximately $12.5 million, it said after markets closed Thursday.The company will use the net proceeds to reduce existing debt, it said."With the completion of this sale, we are applying the proceeds directly to debt repayment, which will further enhance our financial flexibility and support our ongoing efforts to strengthen Dorel's capital structure," said Chief Executive Officer Martin Schwartz.DII-B.TO shares were last seen up C$0.02 to C$1.65 on the Toronto Stock Exchange.Price: $1.65, Change: $+0.02, Percent Change: +1.23%
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