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Article: Addington Resources, Inc. announces completion of sales.
- Article from:
- Business Wire
- Article date:
- November 2, 1995
CopyrightCOPYRIGHT 1995 Business Wire. 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)
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NEW YORK--(BUSINESS WIRE)--Nov. 2, 1995--Addington Resources, Inc. (NASDAQ-NMS:ADDR) announced today that it had completed the previously announced sales of its coal mining, mining technology and citrus operations to Larry Addington, Bruce Addington and Robert Addington.
The company received $30,000,000, before certain working capital adjustments, for the coal mining subsidiaries and its mining equipment manufacturing and licensing subsidiary. Additionally, the Company has received $4,000,000 in cash payments from BHP Australia Coal Pty., Ltd. under the Company's previously announced technology sale. The Company expects to receive an additional $3,000,000 from that ...