Jason Industries Announces Definitive Agreement to Sell Fiber Solutions Segment; Exploring Strategic Alternatives, Including a Potential Sale of the Company; Reports Second Quarter 2019 Re...
JASON INDUSTRIES (JASN)
Last jason industries earnings: 5/2 08:00 am
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Source: Business Wire
MILWAUKEE--(BUSINESS WIRE)--Jason Industries, Inc. (NASDAQ: JASN, JASNW) (“Jason” or the “Company”) today announced several significant developments and its second quarter results.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190812005142/en/Sale of Fiber Solutions SegmentThe Company announced the signing of a definitive agreement to sell its Fiber Solutions segment (“Janesville”) to Motus Integrated Technologies (“Motus”) for approximately $85 million, subject to customary closing, performance, and other requirements. The transaction is expected to be completed during the third quarter and is not subject to regulatory review and approval.“The divestiture of Janesville reduces Jason’s automotive market exposure, simplifies our portfolio to the remaining Industrial and Engineered Components businesses, and increases liquidity. Janesville can achieve its true potential under new ownership,” said Brian Kobylinski, chairma
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