Philip Services Closes The Sale Of Three Aluminum Plants To Wabash Alloys.HAMILTON, Ontario--(BUSINESS WIRE)--Jan. 12, 1999--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :PHV PHV Plug-in Hybrid Vehicle PHV Peak Height Velocity PHV Peak Hour Volume (traffic & transportation engineering) PHV Protocol Handler (CDMA voice) PHV Protocol Handler for Voice .) (ME:PHV.) (NYSE NYSE See: New York Stock Exchange :PHV) Philip Services Corp. today announced that it has closed the sale of three of its aluminum operations to Wabash Alloys, L.L.C., a subsidiary of Connell Limited Partnership, for approximately US$70 million, less certain costs and liabilities relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the transaction. The sale includes the Company's aluminum deoxidizing facility in Bellwood, Virginia, and its aluminum alloys plants in Syracuse, New York
Syracuse (IPA: and Guelph, Ontario. The transaction does not include the Company's aluminum facilities in Painesville, Ohio and in Becancour and Baie-Comeau, Quebec. The allocation of proceeds from the sale of these operations will form part of the Company's restructuring plan currently being negotiated with its secured lenders. Philip Services is an integrated metals recovery and industrial services company with operations throughout the United States, Canada and Europe. Philip provides ferrous and non-ferrous processing services, together with diversified industrial outsourcing services, to all major industry sectors. |
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