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Merchant House Sells AMI Equipment at $9M Loss, Eyes Land Sale Next
9:10am on Monday 2nd of June, 2025 AEST
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Manufacturing
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Merchant House Sells AMI Equipment at $9M Loss, Eyes Land Sale Next
9:10am on Monday 2nd of June, 2025 AEST
Key Points
AMI textile factory equipment sold for US$4 million
Sale results in A$9.02 million loss against book value
US$1 million received upfront, US$3 million via promissory notes
No director conflicts with buyers United Textile Machinery Corp and Gibbs International Inc
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