Hong Kong-A property transaction in the US could leave flexible foamer Sinomax $6m better off.The money will fund working capital.Sinomax owns Sinomax East,which plans to buy,sell and lease back the land in LaVergne,Tennessee,where the company's US factory is located.Sinomax East currently leases 505,000 sq ft(4.7 ha)of land in LaVergne.The lease enables it to buy the land at its value when the lease was agreed.Sinomax East plans to pay its current landlord $20.8m in cash for the land.
展开▼
