Otter Tail sells portion of DMI Industries
Otter Tail has entered into an agreement with Trinity Industries to sell the property, plant and equipment of DMI Industries in Ft. Erie, Ontario; West Fargo, North Dakota; and Tulsa, Oklahoma, for $20 million. The Ft.Erie transaction closed on September 6, and the West Fargo and Tulsa transactions will close in November and December, respectively.
Terms of this transaction are consistent with those disclosed in the August 6th release of Otter Tail’s second quarter 2012 earnings. As previously disclosed, Otter Tail is maintaining the net working capital of approximately $66 million as of June 30.
For more information, visit ottertail.com.
From our partners
MORE FROM Manufacturers News
SUBSCRIBE & FOLLOW
- PHOTOS: Reclamation photo contest entries showcase post-mining opportunities619 Views
- Loader operator dies after sand avalanche at Massachusetts sand and gravel company430 Views
- Location is key for Dolese Bros. Co.'s Davis Quarry427 Views
- A total of 27 states have sued the Obama administration over the new EPA water rule390 Views
- Fireworks are being blamed for a fire at a Montana quarry382 Views