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GlobeNewswire·

PyroGenesis Completes Purchase of its Turcot Manufacturing Facility

  • PyroGenesis Inc. completed the purchase of its 40,902 sq. ft. Turcot Facility located at 5655 Philippe-Turcot in Montreal, Québec.
  • The acquisition was finalized for $3.1 million following a binding legal settlement that resolved a dispute over title conveyance.
  • The company occupied the building since September 1, 2012, & now plans to continue operations there while negotiating a sale-leaseback arrangement.
  • The facility houses manufacturing, R&D, pilot plant systems, metal powder production, testing apparatus, & office space.
  • CEO P. Peter Pascali stated the purchase secures the facility long-term & was acquired at a discount to current market value.
  • Net proceeds from the planned sale-leaseback are intended to provide additional capital to accelerate projects across business segments.
  • PyroGenesis leverages 35 years of plasma technology & holds ISO 9001:2015 & AS9100D certifications.