May 11 (SeeNews) - Bulgarian engineering company Energoremont Holding [BUL:6EG] said on Thursday it has sold its majority stake in U.S.-based Lonewall Laboratories.
“Energoremont Holding has sold its entire shareholding interest in Lonewall Laboratories,” the company said in a bourse filing without providing further details.
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Energoremont Holding owned 2.57 million shares in Lonewall Laboratories, equivalent to 84% of the company’s share capital, Sofia-based Energoremont said in its interim financial report for the first quarter of 2017 filed with the Sofia bourse last month.
Energoremont Holding and its seven affiliate companies manufacture power equipment, spare parts and metal structures for companies operating in power engineering, chemistry and metallurgy. It has representative offices in Serbia, Macedonia, Kosovo and Turkey.
Nevada-based Lonewall Laboratories was established in 2009.
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