The company sold its polycarbonate factory in Doncaster for ₤4.7 million and will lease it back for ₤330,000 a year.
Palram Industries Ltd. (TASE: PLRM) has sold its polycarbonate factory in Doncaster, UK, for ₤4.7 million (NIS 38 million) and will lease it back for ₤330,000 a year (NIS 2.7 million). The company will report a pretax capital gain of ₤2.2 million (NIS 22 million) on the sale.
The company said it sold the property to exploit rising real estate prices in the area. It added that the sell and lease-back deal would give it “flexibility concerning continued activity at the site, or to change the factory’s location depending on the company’s development in the area.”
Published by Globes [online], Israel business news - www.globes.co.il - on January 7, 2007
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