Schmitt Industries Closes USD 3.5m Sale Agreement for Portland, Oregon Property.
MANews-(C)2009-2022
US-based test and measurement products maker Schmitt Industries, Inc. (NASDAQ: SMIT) has closed the Real Estate Purchase and Sale Agreement with Tofte Farms, LLC to purchase the 2765 NW Nicolai Street, Portland, Oregon property of Schmitt for a purchase price of USD 3.5m, the company said.
Net proceeds are estimated to be USD 3.2m for Schmitt.
Schmitt Industries, founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity and Xact product lines.
Acuity provides laser and white light sensor...
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