Brampton Brick announces sale of commercial property.BRAMPTON Brampton, city (1991 pop. 234,445), S Ont., Canada, NW of Toronto. Incorporated as a village (1852), a town (1873), and then a city (1976), it is noted for its greenhouses and flowers. Automobiles, shoes, lumber, optical goods, and other products are made. , Ontario--(BUSINESS WIRE)--Feb. 3, 1995--BRAMPTON BRICK (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME: BBL "Be back later." See digispeak. (chat) BBL - (I will) be back later. .A) Brampton Brick Limited announced today it has completed the sale of approximately 27.1 acres of land to a company associated with First Professional Management Inc., for a sale price of $7.6 million. Brampton Brick had previously announced the agreement to sell the property, expecting the transaction to be finalized See finalization. before the end of 1994. The sale property is located in Brampton and zoned for commercial use. It represents a portion of the property being held by Brampton Brick for redevelopment on Main Street, the site of its former plant. Proceeds of the sale will go to reduce bank debt in the amount of $5 million, as well as to fund development expenditures. The net book value of the property sold, including a provision for servicing work to be completed in the spring of 1995, is $3.5 million. Brampton Brick is Canada's second largest producer of clay brick and holds a 38.2 percent interest in one of the largest producers of concrete block in Ontario Ontario, city, United States Ontario, city (1990 pop. 133,179), San Bernardino co., S Calif., near Los Angeles, in a region of vineyards; inc. 1891. . The Company's products are used for residential construction and industrial, commercial and institutional building projects. CONTACT: Brampton Brick Limited Jeffrey G. Kerbel, 905/840-1011 |
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