ETC Announces Completion of Sales-Leaseback Transaction Generating $4.0 million in Working Capital
Environmental Tectonics (ETCC) has completed a sale-leaseback transaction of demonstration equipment in Southampton, Pennsylvania, generating $4.0 million in working capital. The company sold the assets and entered into a 30-month lease agreement with VFI Corporate Finance, with annual net rent expenses of approximately $1.75 million. The assets previously had annual depreciation expenses of about $780,000. The proceeds will be used as additional working capital financing to execute the company's $100 million project backlog.
Environmental Tectonics (ETCC) ha completato una transazione di vendita e leasing di attrezzature dimostrative a Southampton, Pennsylvania, generando 4,0 milioni di dollari di capitale circolante. L'azienda ha venduto gli attivi ed è entrata in un contratto di locazione di 30 mesi con VFI Corporate Finance, con spese annuali di affitto netto di circa 1,75 milioni di dollari. Gli attivi avevano precedentemente spese annuali di ammortamento di circa 780.000 dollari. I proventi saranno utilizzati come finanziamento aggiuntivo per il capitale circolante per eseguire il progetto in backlog dell'azienda di 100 milioni di dollari.
Environmental Tectonics (ETCC) ha completado una transacción de venta y arrendamiento de equipos de demostración en Southampton, Pennsylvania, generando 4,0 millones de dólares en capital de trabajo. La empresa vendió los activos e ingresó en un contrato de arrendamiento de 30 meses con VFI Corporate Finance, con gastos anuales de alquiler neto de aproximadamente 1,75 millones de dólares. Los activos anteriormente tenían gastos anuales de depreciación de unos 780.000 dólares. Los ingresos se usarán como financiamiento adicional para el capital de trabajo para llevar a cabo el proyecto acumulado de la empresa de 100 millones de dólares.
Environmental Tectonics (ETCC)는 펜실베이니아주 사우샘프턴에서 시연 장비의 매각-임대백 거래를 완료하여 400만 달러의 운영 자본을 생성했습니다. 회사는 자산을 매각하고 VFI Corporate Finance와 30개월 임대 계약을 체결했으며, 연간 순 임대 비용은 약 175만 달러입니다. 자산은 이전에 연간 감가상각비가 약 78만 달러였습니다. 수익은 회사의 1억 달러 프로젝트 적체를 수행하기 위한 추가 운영 자본 자금으로 사용될 것입니다.
Environmental Tectonics (ETCC) a finalisé une transaction de vente-location d'équipements de démonstration à Southampton, en Pennsylvanie, générant 4,0 millions de dollars de fonds de roulement. La société a vendu les actifs et a signé un contrat de location de 30 mois avec VFI Corporate Finance, avec des frais de loyer nets annuels d'environ 1,75 million de dollars. Les actifs avaient précédemment des frais d'amortissement annuels d'environ 780 000 dollars. Les revenus seront utilisés comme financement supplémentaire pour le fonds de roulement afin d'exécuter le carnet de commandes de l'entreprise d'100 millions de dollars.
Environmental Tectonics (ETCC) hat eine Verkaufs-Leaseback-Transaktion von Demogeräten in Southampton, Pennsylvania, abgeschlossen, die 4,0 Millionen Dollar an Betriebskapital generiert hat. Das Unternehmen hat die Vermögenswerte verkauft und einen 30-monatigen Mietvertrag mit VFI Corporate Finance abgeschlossen, mit jährlichen Nettomietkosten von etwa 1,75 Millionen Dollar. Die Vermögenswerte hatten zuvor jährliche Abschreibungskosten von etwa 780.000 Dollar. Die Erlöse werden als zusätzliche Finanzierung für das Betriebskapital verwendet, um das Projekt-Backlog des Unternehmens in Höhe von 100 Millionen Dollar auszuführen.
- Generated $4.0 million in immediate working capital
- Substantial project backlog of $100 million indicating strong business pipeline
- Annual net rent expense of $1.75 million exceeds previous depreciation expense of $780,000
- Sale of assets may impact long-term ownership and control of demonstration equipment
SOUTHAMPTON, Pa., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) announced that on November 26, 2024, the Company closed a transaction for the sale and lease back of demonstration equipment located in Southampton, Pennsylvania. Under the terms of the agreement the assets were sold for
About ETC
ETC designs, manufactures, and sells software-driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC’s headquarters is in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.
Forward-looking Statements
This news release contains forward-looking statements, which are based on management's expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "future", "predict", "potential", "intend", or "continue", and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.
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FAQ
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