Proliance International Sale Announced


Proliance International has agreed to sell 100% of the stock of its Nederlandse Radiateuren Fabriek B.V. (NRF) subsidiary to Mentha Capital for approximately EUR13.5 million in cash. Established in 1927, NRF is a leading European aftermarket manufacturer and distributor of automotive, industrial and railway heat transfer products. The sale agreement is subject to higher or otherwise better offers pursuant to specified bidding procedures and an auction process to be conducted under the supervision of the U.S. Bankruptcy Court under Section 363 of the U.S. Bankruptcy Code.

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