Global Power Provides Update on Liquidity Initiatives
GLOBAL POWER EQUIPMENT (GLPW)
US:NASDAQ Investor Relations:
ir.globalpower.com
Company Research
Source: GlobeNewswire
IRVING, Texas, Nov. 29, 2016 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc. (OTC:GLPW) (“Global Power” or the “Company”) announced today that it has signed definitive agreements in its effort to monetize assets and reduce indebtedness. The Company has agreed to the sale of three of its U.S. facilities for $14.8 million. As part of the transaction, the Company will also enter into a 10 year lease for each facility to continue operations in the ordinary course. The net proceeds from the transaction will be used to pay down debt. Subject to typical closing conditions for transactions of this type, the Company currently expects to close on these sale leaseback transactions no later than December 31, 2016. About Global Power Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. The Products segment includes two primary product categori
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