TORONTO, June 05, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. ("Mattr" or the "Company") (TSX: MATR) announced today that it has completed the sale of its subsidiary, Thermotite do Brazil ("Thermotite"), the Company's final remaining pipe coating business, to Vallourec Tubular Solutions Ltda., a subsidiary of Vallourec S.A. ("Vallourec") (EPA:VK). The Company has received proceeds of $17.5 million USD, or approximately $24 million CAD at current exchange rates, on a cash-free, debt-free basis, subject to normal working capital adjustments.
"With our strategic review process complete and our new facilities now online, we have laid the groundwork to deliver focused, high-return growth in our remaining core businesses," said Mike Reeves, Mattr's President and CEO. "I would like to thank every member of the Thermotite team for their many contributions to the history and success of our organization, and wish them continued success under Vallourec."
About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure.
For further information, please contact
Meghan MacEachern
VP, Investor Relations & External Communications
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com
Source: Mattr Corp.
