|
|
News Breaks
|
January 18, 2012
|
| 17:05 EDT |  | BKI |
| theflyonthewall.com: | Buckeye Technologies announces sale of non-core Merfin Systems business | | Buckeye Technologies announced that it has signed a definitive agreement to sell the assets and ongoing operations of its Merfin Systems converting business to National Tissue. Merfin Systems, located in King, North Carolina, is a converter of towels, tissue and napkins which it sells along with proprietary paper product dispensers into the away from home market. It sells these products through selected distributors concentrated in the eastern U.S. and Canada. National Tissue is a privately owned converter located in Cudahy, Wisconsin. National Tissue markets and sells its broad product line primarily through small and mid-sized distributors located in the Midwest. According to the company's CEO: "We expect to incur non-cash goodwill and fixed asset impairment charges of about $4 million in the October-December 2011 quarter. The sale along with associated liquidation of working capital is expected to generate approximately $6 million in cash." :theflyonthewall.com |
|
|
News For BKI From The Last 14 Days Check below for free stories on BKI the last two weeks.
| Sign up for a free trial to see the rest of the stories you've been missing. |
There are no results for these search parameters.
|
|
|
|
