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
Sandvik Construction’s extensive range of rock tools are world renowned for combining…
MORE FROM Manufacturers News
SUBSCRIBE & FOLLOW
- Quarry worker safety is a big deal in the U.S., but not everywhere in the world322 Views
- Historical aggregate landmark disappears into Lake Superior216 Views
- Can John Oliver's stand on U.S. infrastructure do for highway funding what “Last Week Tonight” did for net neutrality? (VIDEO)180 Views
- Telsmith sponsors white paper on permitting147 Views
- Aggregate production up 7 percent in 2014136 Views