CVV - CVD Equipment announces sale of its Tantaline unit in Denmark

2023-05-30 16:42:29 ET

• CVD Equipment ( NASDAQ: CVV ) on Tuesday said it would sell a Denmark based subsidiary called Tantaline CVD ApS.
• CVV expects to record a loss on the sale of about $250K in Q2.
• "The sales price consists principally of an earn-out provision based on any net income that Tantaline may earn during the five-year period ending December 31, 2027," CVV said in a statement .
• The company said that Tantaline had experienced a recent decline in revenues and would have required further capital investment.
• According to CVV, disposing off Tantaline allows it to continue to focus on its core growth markets of high-power electronics, EV battery materials/energy storage and aerospace & defense.

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