Skyline Corporation has completed the sale of certain assets
associated with its Recreational Vehicle segment to Evergreen RecreationalVehicles, LLC.
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| Evergreen Travel Trailer |
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| Evergreen Travel Trailer Interior |
The transaction was completed pursuant to the terms of an
Asset Purchase Agreement entered into between the two companies on October 7,
2014, as well as the terms of a Real Property Purchase Agreement entered into
on that same date between Skyline and an affiliate of Evergreen, Skyline RE
Holding LLC, relating to the purchase of an RV manufacturing facility located
in Bristol, Indiana.
The cash sales price for the RV business and real estate,
which Skyline received at closing, totaled approximately $981,000.
In addition, Evergreen has the right, but not the obligation, to purchase
approximately $1.6 million of raw material inventory on-hand at 50
percent of Skyline's cost.
No news about Skyline's manufactured and modular divisions sale
to Cavco. Skyline sold 2,434 manufactured homes, 457 modular homes, and 231
park models in fiscal 2014.
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