On July 10, Servotronics, Inc. And Its Subsidiary, The Ontario Knife Company Entered Into An Asset Purchase Agreement With Blue Ridge Knives, Inc, Pursuant To Which Buyer Has Agreed To Purchase Substantially All Of The Inventory For A Price Of Of $2.1M
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Servotronics, Inc. and its subsidiary, The Ontario Knife Company, have entered into an Asset Purchase Agreement with Blue Ridge Knives, Inc. The agreement involves the sale of substantially all of the inventory, intellectual property assets, tangible personal property and goodwill of The Ontario Knife Company for a total of $2.1 million.
July 13, 2023 | 3:50 pm
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Servotronics has sold a significant portion of its subsidiary's assets, which could impact its financial position and future earnings.
The sale of a significant portion of assets from Servotronics' subsidiary could have a variety of impacts on the company. It could provide a short-term cash boost, but it may also impact future earnings if these assets were contributing significantly to revenue. The exact impact will depend on the company's use of the sale proceeds and the profitability of the sold assets.
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