Forterra Announces Definitive Agreement with Thompson Pipe Group
Forterra, Inc. (FRTA)
Last forterra, inc. earnings: 4/29 06:28 pm
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Source: GlobeNewswire
Thompson Pipe Group to Acquire Forterra’s U.S. Concrete and Steel Pressure Pipe Assets Forterra to Acquire Thompson Pipe’s Drainage Pipe & Products Manufacturing Facility with a Strategic Position in Houston Market IRVING, Texas, June 26, 2017 (GLOBE NEWSWIRE) -- Forterra, Inc. (“Forterra” or the “Company”) (Nasdaq:FRTA), a leading manufacturer of water infrastructure pipe and products in the United States and Eastern Canada, today announced it has entered into a definitive agreement to sell the U.S. concrete and steel pressure pipe assets of its Water Pipe and Products business segment to Thompson Pipe Group. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2017. Under the terms of the agreement, an affiliate of Thompson Pipe Group will acquire assets related to five Forterra manufacturing facilities and a fittings facility. Forterra will receive approximately $23.2 million in cash, exclusive of fees and expenses, as we
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