
Portec Rail Products Sells U.K. Facility
PITTSBURGH, Pa. — Portec Rail Products, Inc. today announced the sale of its Wrexham, Wales, United Kingdom facility to Eifion Lloyd Davies, an individual, doing business as GHA Coaches, based in the United Kingdom. The net proceeds from the sale, which closed on March 29, 2007, were approximately $2 million, and were used to reduce outstanding debt with a United Kingdom financial institution. The Wrexham location was a former manufacturing facility with rail and material handling operations and was closed in December 2006 as part of a business reorganization that the Company had initiated during 2006. “The sale of this