USA: Reunion Industries Announces Sale Of Irish Plastics Subsidiary And Revised Agreement To Sell Wine Grape Operations

By Company Press Release | 7 September 2000

Reunion Industries, Inc. (AMEX - RUN), announced today that it has completed the sale of its Plastics Group's Irish operations, Data Packaging, Ltd., to a subsidiary of Trend Technologies, Inc. The sale eliminated approximately $2 million of Data Packaging's debt and preferred stock obligations from Reunion's balance sheet, and the Company used the net cash proceeds of approximately $11 million to repay debt, including a portion of its senior secured and revolving credit borrowings with Bank of America.

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Reunion Industries, Inc. (AMEX - RUN), announced today that it has completed the sale of its Plastics Group's Irish operations, Data Packaging, Ltd., to a subsidiary of Trend Technologies, Inc. The sale eliminated approximately $2 million of Data Packaging's debt and preferred stock obligations from Reunion's balance sheet, and the Company used the net cash proceeds of approximately $11 million to repay debt, including a portion of its senior secured and revolving credit borrowings with Bank of America.

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