Schmitt Industries to Sell the Assets of its Xact Business Line.
MANews-(C)2009-2022
Oregon, US-based test and measurement products maker Schmitt Industries, Inc. (NASDAQ: SMIT) has entered into a letter of intent to sell all assets related to its Xact business line, the company said.
This potential transaction is subject to several contingencies, including the negotiation and execution of definitive transaction agreement, the completion of due diligence to the satisfaction of the acquirer and company board approval.
Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity and Xact product lines.
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