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Note 4 - Sale of Manitowoc Industrial Fabrication Operations
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Assets Held For Sale [Text Block]

NOTE 4  SALE OF MANITOWOC INDUSTRIAL FABRICATION OPERATIONS

 

On June 4, 2025, the Company (the “Seller”) entered into a definitive agreement (the “Manitowoc Purchase Agreement”) with Wisconsin Heavy Fabrication, LLC (the “Buyer”) to sell certain assets used in its industrial fabrication operations in Manitowoc, Wisconsin including specified contracts, equipment, machinery and other personal property, and permits. The sale was completed on September 8, 2025 for a purchase price of $13,500 before the payment of transaction expenses in the form of cash and the assumption by the Buyer of certain liabilities of the Seller. During the three and nine months ended September 30, 2025, the Company recorded a gain on the sale of $8,155 and $8,213, respectively, which is included in the “Gain on sale of Manitowoc industrial fabrication operations” line item in the Company’s condensed consolidated statement of operations. The Manitowoc operating results are included within the Heavy Fabrications segment and did not qualify for presentation as a discontinued operation.