Forterra Announces Strategic Exchange of Assets
IRVING, Texas, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Forterra, Inc. ("Forterra" or the "Company") (NASDAQ:FRTA), a leading manufacturer of water and drainage infrastructure pipe and products in the United States and Eastern Canada, today announced that it has completed a transaction to exchange certain of its drainage assets in Alabama, Georgia and Tennessee for assets owned by Foley Products Company in Mississippi and Texas plus $10 million in cash. While not expected to be material to Forterra's financial results, the transaction reflects the Company's continued focus on portfolio management to deliver long-term value by enhancing its position in well-structured markets. The transaction is subject to customary working capital adjustments.
Forterra is a leading manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage and stormwater management. Based in Irving, Texas, Forterra's product breadth and significant scale help make it a one-stop shop for water related pipe and products, and a preferred supplier to a wide variety of customers, including contractors, distributors and municipalities. For more information on Forterra, visit http://forterrabp.com .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
Vice President, Treasury and Investor Relations
Information om Globenewswire
Følg pressemeddelelser fra Globenewswire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Globenewswire
Magna International Inc.12.11.2018 23:06 | pressemeddelelse
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Erytech Pharma S.A.12.11.2018 22:31 | pressemeddelelse
ERYTECH Reports Third Quarter 2018 Financial Results and Provides Business Update
Mitratech12.11.2018 14:02 | pressemeddelelse
Mitratech’s DataStore Helps Financial Services Clients Across the Globe Meet Regulatory Requirements, Reduce Risk and Improve Efficiency
Bombardier Transportation; Alstom12.11.2018 13:49 | pressemeddelelse
Bombardier-Alstom consortium to supply 153 additional AZUR metro cars for Montréal
Juniper Networks; World Robot Olympiad™ Association; LEGO® Education12.11.2018 11:01 | pressemeddelelse
Media Alert: Fifteenth World Robot Olympiad Finals Set in Thailand
Mash Group Oyj12.11.2018 10:18 | pressemeddelelse
Mash Group Plc Reports Interim Unaudited Q3 Financials, ended 30th September 2018
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum