|]>Do you recall who they sold their wood pellet company too? Off hand I don't recall. As I recall in a PR or SEC filing. They had a partner and they sold the interest back to the the partner without taking a write down. Assuming they paid down some debt with proceeds and maybe a reason for the LTD disparity in your figures.|
Closure of Arkansas Wood-Pellet Plant Agreements
During second-quarter 2018, Astec and Highland Pellets, its wood-pellet plant customer in Arkansas decided to exit the Arkansas wood-pellet plant agreements. Per the terms of this agreement to exit the contract, Astec will pay $68 million in cash and forgive approximately $7 million in receivables. In exchange, Highland has agreed to release all of Astec's contractual obligations related to the Highland wood-pellet plant. Thus, Astec has redefined its wood-pellet plant strategy and plans to serve as an equipment supplier to the pellet industry, but will no longer finance plants or act as an Engineer, Procure, Construct (EPC) contractor.
I was not familiar with MDU resources till you mentioned it. I've longed looked at GCOR, but never bit. MNTX has been a past big winner for myself. It owned part of ASV with TEX. What I find interesting after my MNTX exit. Manitex Int'l (MNTX) $32.7 Million Equity Investment by Tadano. The company is still leveraged, but in better shape then when I first started making purchases. Because of the ASV acquisition. It's on my radar again. Just recently thinking Tanano might want the rest of MNTX?
Manitex Int'l (MNTX) Makes $32.7 Million Equity Investment by Tadano.
Tadano Ltd. is the largest Japan-based manufacturer of cranes and aerial work platforms. The company is the seventh largest crane manufacturer in the world.
ASV bought by a Japanese company Yanmar Holdings. MNTX trading at about 50% lower than Tadano initial equity investment.