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| Devcon To Sell Its Construction Operations Devcon International Corp. announces that it has executed a letter of intent to sell certain subsidiaries and net assets that collectively comprise the company’s construction divisions, its remaining materials operations and DevMat, an 80 percent-owned joint venture, to a private investment group for $22 million in cash, subject to certain adjustments. Based upon the purchase price agreed, the company currently anticipates it will be recording an impairment charge of approximately $11 million during the fourth quarter of 2005 related to the assets being disposed. write your comments about the article :: © 2005 Construction News :: home page |