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Article Excerpt
FARMINGDALE, N.Y. -- P&F Industries, Inc. (Nasdaq NM: PFIN) announced today that it has entered into a definitive Asset Purchase Agreement dated February 2, 2005, with Benko Products, Inc. ("Benko"). Benko is a manufacturer of diverse industrial products and material handling equipment based in Sheffield Village, Ohio. Under this Agreement, Green Manufacturing, Inc., a wholly-owned subsidiary of P&F, sold certain of its assets comprising its Access Division, including machinery and equipment, inventory, and certain accounts receivable, while retaining certain other accounts receivable. Green received net cash proceeds of approximately $880,000 and two...
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