The Egide Group announces the signing between Tempus Cambridge LLC (Arkansas, USA) and Egide USA Inc. (MD, USA) of a Sale/Lease back agreement for the Cambridge building for $6m.
The lease attached to the transaction is signed for 15 years with an annual rent of $0.4m.
Jim Collins, Chief Executive Officer, said: “We are very pleased today to announce the signing, and receipt of funds, of this financing agreement with Tempus Cambridge LLC. This agreement will enable us to strengthen and accelerate our investment program for our HTCC process in Cambridge, similar to the activity underway in Bollene and in equipment that will enable our San Diego facility to reduce its overhead and become more competitive. This signature allows us to focus on the pursuit of our growth strategy in the markets in which we are anchored but also in new markets. »
EGIDE is listed on Euronext Paris™- Compartment C – ISIN: FR0000072373 – Reuters: EGID.PA – Bloomberg: GID
Find the full press release online on the Egide website: www.egide-group.com