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.
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.