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An announcement from Velan Inc. SV ( (TSE:VLN) ) is now available.
Velan Inc. reported strong financial results for its fiscal 2025 third quarter, driven by effective management of a robust order backlog. The company has entered into an agreement to divest its asbestos-related liabilities, enhancing its balance sheet by transferring these liabilities to a new subsidiary and selling its U.S. subsidiary, Velan Valve Corp. Additionally, Velan’s subsidiary, Velan UK, has signed a memorandum of understanding to sell its French subsidiaries to Framatome SAS, a leader in nuclear energy, for $198.4 million. This transaction has been reflected in the company’s balance sheet as assets held for sale, streamlining its operations and focusing on continuing operations.
More about Velan Inc. SV
Velan Inc. is a world-leading manufacturer in the industrial valves industry, providing specialized solutions for various sectors. The company focuses on delivering high-quality valve products that cater to a range of industrial applications.
YTD Price Performance: 7.47%
Average Trading Volume: 21,570
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$237.4M
Find detailed analytics on VLN stock on TipRanks’ Stock Analysis page.
