WINNIPEG, MB, April 17,
2023 /CNW/ - Buhler Industries Inc. (TSX: BUI)
("Buhler Industries" or the Company") announces that it has closed
the sale of two properties located in Fargo, North Dakota and Vegreville, Alberta. The Company
identified the properties as "Assets held for sale" on its balance
sheet. In addition, Buhler Industries completed the sale and
leaseback of its Woodstock,
Ontario property. Buhler Industries has the option to
lease the Woodstock property for
up to five years.
Total proceeds net of commission was $24.3 million for all three-property sales.
Proceeds will support operations and future capital investments in
the Company. First quarter results will reflect the
Fargo, North Dakota property sale
located in the United States while
the second quarter will reflect the sales of the Vegreville, Alberta and Woodstock, Ontario properties located in
Canada. Sale of the U.S. property was through the B.I.I.
Fargo, Inc. subsidiary while the
sales of the Canadian properties was through the Buhler Trading
Inc. subsidiary.
About Buhler Industries
Buhler Industries is headquartered in Winnipeg, Manitoba, Canada and is a publicly
traded Company on the TSX (TSX: BUI). The Company manufactures and
distributes its product through several brand names including
Versatile and Farm King. The Versatile line of equipment consists
of tractors and tillage. Farm King supplies augers, mowers, bale
carriers, snowblowers, and compact implements. The Company has
manufacturing facilities and warehouses in both Canada and the
United States.
SOURCE Buhler Industries Inc.