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Atco Ltd Announces Sale Of Its Share In South American Joint Venture

Friday, 13 Sep 2013 09:16am EDT 

Atco Ltd announced that the sale of its 50% ownership interest in Tecno Fast ATCO to its joint-venture partner, Tecno Fast, headquartered in Santiago, Chile. The joint venture between ATCO and Tecno Fast was established in 1996 to supply the mining and resource sector with workforce accommodation. ATCO sold its interest for approximately CAD124 million, which includes all operational assets consisting of space rental and workforce housing fleet assets, manufacturing facilities and offices in Chile, Peru, Colombia and Brazil. ATCO remains committed to the South American market and its other ATCO companies will continue to pursue business opportunities there. ATCO Structures & Logistics will evaluate re-entering the South American modular structures market in the future. 

Company Quote

0.3 +0.76%
3 Jul 2015