Sigma Industries sells metal products division for $2 million
Conditional agreement includes inventory, property, plant and equipment.
SAINT-ÉPHREM-DE-BEAUCE, Que. – Sigma Industries Inc. has accepted a conditional agreement to sell the inventories, the property, plant and equipment and the business unit of its PNS Tech division for $2 million.
The sale price involves a cash payment of $1.69 million and compensation for $310,000 in convertible debentures issued by Sigma Industries Inc.
The transaction is expected to close on Oct. 1.
Sigma Industries Inc. is a manufacturer of composite and metal components, and has four operating subsidiaries that employ 400 people.
The company is active in the heavy-duty truck, coach, transit, machinery, agriculture, and wind energy markets, selling its products to original equipment manufacturers and distributors in the US, Canada and Europe.