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BRIEF-Gentherm Inc - On Dec 31, 2022, Board Approved Co's Plan To Exit Its Non-Automotive Electronics Business

Reuters · 01/06/2023 16:29
BRIEF-Gentherm Inc - On Dec 31, 2022, Board Approved Co's Plan To Exit Its Non-Automotive Electronics Business

- Gentherm Inc THRM.O:

  • GENTHERM INC - ON DEC 31, 2022, BOARD APPROVED CO'S PLAN TO EXIT ITS NON-AUTOMOTIVE ELECTRONICS BUSINESS

  • GENTHERM INC - WILL CONTINUE TO SELL CERTAIN BUSINESS PRODUCTS UNTIL THE EXIT IS COMPLETE

  • GENTHERM INC - BOARD’S DETERMINATION WILL HAVE NO IMPACT ON THE COMPANY’S AUTOMOTIVE ELECTRONICS BUSINESS

  • GENTHERM INC - FOR THE 12 MONTHS ENDED DEC 31, 2022, CO'S PRODUCT REVS FROM NON-AUTOMOTIVE ELECTRONICS BUSINESS EXPECTED TO BE ABOUT $17 MILLION

  • GENTHERM INC - COMPANY IS EVALUATING A POTENTIAL SALE OF NON-AUTOMOTIVE ELECTRONICS BUSINESS OR SUBSTANTIALLY ALL OF ITS ASSETS

  • GENTHERM INC-IF SALE OF NON-AUTOMOTIVE ELECTRONICS BUSINESS IS NOT PURSUED CO TO WIND-DOWN OPERATIONS OF BUSINESS OVER ABOUT 8-12 MONTHS

  • GENTHERM INC-IN CONNECTION WITH EXIT FROM NON-AUTOMOTIVE ELECTRONICS BUSINESS, CO EXPECTS TOTAL NON-CASH EXPENSES OF BETWEEN $13 MILLION AND $18 MILLION

Further company coverage: THRM.O


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