BRIEF-Strongco to pursue sale of Chadwick-Baross Inc

Thu Aug 4, 2016 7:13pm EDT
 
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Aug 4 (Reuters) - Strongco Corp

* Strongco announces intention to pursue sale of Chadwick-Baross Inc.

* Proceeds from completion of transaction to be used to reduce indebtedness under credit facility, pay trade payables, fund its operations

* Intends to pursue sale of 100 pct of shares of Chadwick-Baross, Inc. for about US$12.75 million to ISH Capital Inc.

* Adopted a salary deferral program for senior leadership team and directors to further improve cash flow Source text for Eikon: Further company coverage: