Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

MFRI To Sell Domestic Assets Of Its Subsidiary, Thermal Care To IPEG

MFRI Inc. (MFRI: Quote) announced that it agreed to sell the domestic assets of its subsidiary, Thermal Care Inc. to IPEG Inc. The transaction is scheduled to close on April 30, 2013, subject to customary closing conditions.

Thermal Care. designs, manufactures and sells industrial process cooling equipment, including chillers, cooling towers, plant circulating systems, and related accessories for use in plastic processing and general industrial process applications.

In the year ended January 31, 2013, Thermal Care sales represented approximately 16% of MFRI's total sales.

MFRI said it plans to release its operating results for its fiscal year ended January 31, 2013 next week.

Click here to receive FREE breaking news email alerts for MFRI Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After trending higher over the past several sessions, stocks showed a lack of direction throughout the trading day on Friday before closing roughly flat. A muted reaction to a highly anticipated speech by Federal Reserve Chair Janet Yellen contributed to the lackluster performance. Republican Scott Brown has significantly narrowed the gap in the race against incumbent New Hampshire Sen. Jeanne Shaheen, D-N.H., according to the results of a new WMUR Granite State Poll. On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.