American Italian Pasta Company Announces Real Estate Sale Contract with ST Specialty Foods, Inc.
16 Junho 2006 - 6:30PM
PR Newswire (US)
KANSAS CITY, Mo., June 16 /PRNewswire-FirstCall/ -- American
Italian Pasta Company (NYSE:PLB) has entered into a Real Estate
Sale Contract with ST Specialty Foods, Inc. ("ST") for the purchase
of the land and manufacturing plant located in Kenosha, Wisconsin
and certain personal property located at the Kenosha manufacturing
plant, as set forth in the contract. The sale will be an all cash
transaction and the Company expects to generate approximately
$6,000,000 of net cash proceeds from the transaction (net of
selling expenses). The sale is expected to close in mid-July. The
Company is not selling the Kenosha facility's pasta manufacturing
equipment nor pasta inventory to ST. As previously reported, the
Company will redeploy its pasta assets, moving two of its
manufacturing lines from its Kenosha plant to its South Carolina
plant. The Company today will file a Current Report on Form 8-K
with respect to this transaction. Founded in 1988 and based in
Kansas City, Missouri, American Italian Pasta Company is the
largest producer and marketer of dry pasta in North America. The
Company has four plants that are located in Excelsior Springs,
Missouri; Columbia, South Carolina; Tolleson, Arizona and
Verolanuova, Italy. The Company has approximately 600 employees
located in the United States and Italy. DATASOURCE: American
Italian Pasta Company CONTACT: George Shadid, EVP & Chief
Financial Officer of American Italian Pasta Company,
+1-816-584-5621, Web site: http://www.aipc.com/
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