Dorel Industries sells Ohio facility for US$12.5 million

Dorel Industries Inc. has sold its Tiffin, Ohio, facility for net proceeds of approximately US$12.5 million, with the funds earmarked for debt repayment.

The Montreal-based company said the transaction is part of the ongoing restructuring of Dorel Home and its broader effort to strengthen its balance sheet.

“With the completion of this sale, we are applying the proceeds directly to debt repayment, which will further enhance our financial flexibility and support our ongoing efforts to strengthen Dorel’s capital structure,” said Martin Schwartz, president and chief executive officer of Dorel.

The Tiffin facility had previously been identified as a non-strategic asset as Dorel Home restructures its manufacturing and distribution activities.

Dorel said completing the sale supports its efforts to improve liquidity and profitability while strengthening its capital structure.

The transaction also completes the monetization of the Tiffin property as part of the company’s broader restructuring program.