Bennett Environmental Inc. (BEV.TO) announced it has entered into an agreement to sell its Trans-Cycle Industries, Ltd. and Material Resource Recovery S.R.B.P. Inc. subsidiaries.
The Company expects to receive about C$500,000 cash as consideration for the transaction, which will result in a loss on disposal of C$25,000 to be recorded during the quarter ended December 31, 2008.
The amount of consideration is subject to a working capital adjustment to be finalized at closing which is expected to occur November 28, 2008.
For comments and feedback: editorial@rttnews.com