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Velan Inc. SV ( (TSE:VLN) ) has issued an announcement.
Velan Inc. announced significant strategic initiatives aimed at reducing operational and financial risks while strengthening its financial standing. The company has agreed to divest its asbestos-related liabilities to Global Risk Capital for $143 million and entered exclusive negotiations with Framatome to sell its French subsidiaries for $175.2 million. These transactions are expected to make Velan nearly debt-free, enabling greater investment in growth opportunities and enhancing shareholder value. Velan remains focused on executing its strategic plan to drive sustained profitable growth and capitalize on the momentum in the clean energy sector.
More about Velan Inc. SV
Velan Inc. is a world-leading manufacturer of industrial valves, specializing in flow control solutions for clean energy and various industrial sectors. The company is known for its strong brand, high-quality products, and superior market positioning, particularly in the nuclear energy sector, where it offers proprietary valve solutions for small modular reactors.
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.
