TSX:MATR - Post Discussion
Mattr Corp
> Mattr Finalizes Pipe Coating Business Sale
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Betteryear2 on Dec 01, 2023 12:04am
Mattr Finalizes Pipe Coating Business Sale
TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd., dba Mattr Infratech (“Mattr” or the “Company”) (TSX: MATR) announced today that it has completed the previously-announced sale of its pipe coating business (“Pipeline Performance Group” or “PPG”) to Tenaris S.A. (“Tenaris”) (NYSE and Mexico: TS and EXM Italy: TEN). The Company has received total proceeds of US$182.6 million, including estimated working capital and US$16.9 million in cash, for effective proceeds of US$165.7 million (or approximately CDN$225 million). Mattr Finalizes Pipe Coating Business Sale (globenewswire.com)
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