PATK » Topics » Patrick Industries, Inc. Completes Sale of Aluminum Extrusion Operation

This excerpt taken from the PATK 8-K filed Jul 28, 2009.

Patrick Industries, Inc. Completes Sale of Aluminum Extrusion Operation


ELKHART, IN – July 27, 2009 – Patrick Industries, Inc. (NASDAQ: PATK), a major manufacturer and distributor of building and component products for the recreational vehicle, manufactured housing and industrial markets, announced today that it has completed the sale of certain assets of its aluminum extrusion operation located in Mishawaka, Indiana to Patrick Aluminum, Inc., a member of the UMC family of companies. Net proceeds from the sale were $7.4 million and are subject to final transaction costs and certain closing adjustments. Approximately $4.4 million of the net proceeds were used to pay down principal on the Company’s term loan and pay off its Economic Development Revenue Bonds related to this facility, and the remaining funds were used to reduce borrowings on the Company’s revolving line of credit.


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki