Liquidation: SIFCO INDUSTRIES INC

Form Type: 10-Q

Filing Date: 2025-02-14

Corporate Action: Liquidation

Type: Update

Accession Number: 000009016825000012

Filing Summary: SIFCO Industries, Inc. completed the sale of its European operations on October 1, 2024, effectively liquidating its last manufacturing facility in Europe. The sale of C Blade S.p.A., a wholly-owned subsidiary, was pursued to streamline operations and refocus on core U.S. aerospace forging businesses. This strategic move resulted in a significant reduction of their European footprint, recognizing C Blade's operations as discontinued. The company no longer expects to be involved with C Blade post-sale, suggesting a substantial shift in their operational strategy towards enhancing profitability. Financial results for the quarter ended December 31, 2024, show a net loss impacted by continuing operations and discontinued operations, with losses from continuing activities amounting to $2,422,000. The completion of the C Blade sale led to a gain recognition and the cessation of operations historically tied to its European market.

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