Haemonetics' Plant Sell-Off To CLS Plasma To Be Strategic Fit
Zacks Investment Research | Jun 17, 2019 10:19PM ET
Haemonetics Corporation (NYSE:HAE) recently entered into a strategic asset sell-off agreement with CSL Plasma Inc. The former has announced that it willtransfer its ownership of Haemonetics' Union, SC manufacturing facility, operating assets and certain inventories to CSL Plasma. The transaction is expected to be completed in the current quarter, subject to fulfilment of certain customary closing conditions.
According to Haemonetics, this impending divestment remains integral to the company’s asset optimization strategy that aims at improving its operating performance and focusing on core competencies.
Haemonetics' Union, SC manufacturing facility produces liquid saline and sodium citrate, which are solutions used in the plasmapheresis or plasma collection process. Per the terms of the deal, on the transaction’s closure, the ownership and operational control of the facility including property and equipment will be transferred to CSL Plasma. Further, approximately 200 Haemonetics employees, currently working in the Union, SC plant will get an opportunity to be inducted to CSL Plasma workforce.
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