|
|
Article: Palram sells UK factory property in sell lease-back deal: The company sold its polycarbonate factory in Doncaster for ?4.7 million and will lease it back for ?330,000 a year.
- Article from:
- Globes
- Article date:
- January 7, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Uri Shuster
Jan. 7--Palram Industries Ltd. (TASE: PLRM) has sold its polycarbonate factory in Doncaster, UK, for a[currency]4.7 million (NIS 38 million) and will lease it back for a[currency]330,000 a year (NIS 2.7 million). The company will report a pretax capital gain of a[currency]2.2 million (NIS 22 million) on the sale.
The company said it sold the property to exploit rising real estate prices in the area. It added that the sell and lease-back deal would give it "flexibility ...