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Merix Corporation Announces Sale of Hong Kong Facility
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| 6 January 2010 |
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Merix Corporation announced that it has reached a binding agreement to sell the building and long term land lease of its former Hong Kong manufacturing facility for $11.1 million. The sale agreement is anticipated to close in the spring of 2010 and is contingent upon approval by the Hong Kong Science and Technology Park and the buyer completing required financing. Upon closing, Merix anticipates net proceeds to approximate $9.5 million from the transaction. The building and land lease are currently held on Merix financial statements at zero net book value.
www.merix.com |
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