April 7, 2017 / 6:48 PM / 4 months ago

BRIEF-WesternOne to sell Britco's Canadian manufacturing operations

1 Min Read

April 7 (Reuters) - WesternOne Inc:

* WesternOne Inc to sell Britco's Canadian manufacturing operations

* Under terms of agreement, WesternOne will receive cash consideration of $2.5 million upon closing

* WesternOne expects to incur a one-time severance obligation of approximately $0.9 million

* Entered into binding agreement with Triple M Modular Ltd to sell substantially all of WesternOne's Canadian manufacturing assets, liabilities

* Will receive up to an additional $2.5 million contingent on earnings from business sold for 12-month period following close of deal Source text for Eikon: Further company coverage:

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