Bullboard - Stock Discussion Forum Mattr Corp T.MATR

Alternate Symbol(s): MTTRF

Mattr Corp., formerly Shawcor Ltd., is a global material technology company serving critical infrastructure markets, including electrification, transportation, communication, water management and energy. The Company operates through a network of fixed and mobile manufacturing and service facilities. The Company operates through two business segments: Composite Technologies and Connection... see more

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Mattr Corp > News snippet on deal and news release

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Post by 2021Gamble on Nov 29, 2021 8:12am

News snippet on deal and news release

Shawcor in Talks to Sell Rexdale Property in Toronto; Net Proceeds Expected to Exceed $45 Million

29 Nov 202107:22 ET

07:22 AM EST, 11/29/2021 (MT Newswires) -- Oilfield services company Shawcor (SCL.TO) on Monday said it received a letter of intent from a third party eyeing its Rexdale property in Toronto in a transaction that could fetch net proceeds of over $45 million.

Shawcor is in talks to finalize a definitive agreement, which would require the company to enter into a three-year leaseback agreement for the property to ensure operational continuity while it moves to another location. Proceeds from the property sale, which is expected to close during the first half, will be used to pay down debt.

Additionally, Shawcor announced the sale of its Guardian Mexico unit and the closure of its CSI Services business in western Canada. The businesses accounted for roughly $8.6 million of the company's revenue in the last 12 months.

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