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Article: Katy Industries, Inc. Announces Letters of Intent to Sell Six Companies
- Article from:
- PR Newswire
- Article date:
- April 15, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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ENGLEWOOD, Colo., April 15 /PRNewswire/ -- Katy Industries, Inc. (NYSE: KT) announced it has signed letters of intent to sell six companies as part of its Divestiture and Reorganization Plan previously announced on January 5, 1998. One letter of intent provides for the sale of five of the companies as a group to Publicker Industries Inc. The group is comprised of Airtronics, Inc., Bach-Simpson Limited, Diehl Machines, Inc., Hamilton Precision Metals, Inc. and Peters Machinery Company. The other letter of intent provides for the sale of C.E.G.F.(USA), Inc. to Meridian Refrigerated, Inc.
The combined sales price, net of debt assumed by a buyer, is expected to ...
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