NN To Sell Its Lone Plastics Products Plant To Davalor Mold Company For Total Net Cash Proceeds Of $16M
Portfolio Pulse from Benzinga Newsdesk
NN Inc. (NNBR) has announced the sale of its only plastics products plant to Davalor Mold Company for a total net cash proceeds of $16 million.
July 02, 2024 | 9:48 pm
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NN Inc. (NNBR) has sold its only plastics products plant to Davalor Mold Company for $16 million. This divestiture could streamline NNBR's operations and improve its cash position.
The sale of the plastics products plant will provide NNBR with $16 million in cash, which can be used to strengthen its balance sheet or invest in core operations. This strategic move is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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