TPI Composites To Divest Its Automotive Business To Clear Creek Investments; Divestiture Expected To Improve Monthly Cash Flow By ~$1.7M Over Balance Of 2024
Portfolio Pulse from Benzinga Newsdesk
TPI Composites (TPIC) is divesting its automotive business to Clear Creek Investments. The divestiture is expected to improve TPI Composites' monthly cash flow by approximately $1.7 million over the balance of 2024.
June 17, 2024 | 8:04 pm
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TPI Composites is divesting its automotive business to Clear Creek Investments, which is expected to improve its monthly cash flow by approximately $1.7 million over the balance of 2024.
The divestiture will likely have a positive short-term impact on TPIC's stock price due to the expected improvement in cash flow. Investors may view this move as a strategic decision to streamline operations and enhance financial stability.
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