Westaim Corp. (WED.TO) on Friday announced a purchase and sale agreement between its wholly owned subsidiary iFire Technology Ltd. and CTS Group Ltd.
Under the agreement, iFire will sell its equipment, patents and intellectual property for net proceeds of about US$8.0 million.
The sale is subject to several conditions, including iFire obtaining certain Government of Canada consents and approvals, which are expected to be obtained by mid-November.
CTS Group is a Canadian-Chinese joint venture with established operations in Henan province, People's Republic of China.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.