ALBUQUERQUE -- IEC Electronics has entered into a purchase and sale agreement with Store Capital Acquisitions for the sale its manufacturing facility here for an aggregate purchase price of $5.75 million.

Under terms of the agreement the plant, located at 1450 Mission Ave., could be leased back back IEC.

The company said last year it was considering closing the site. In July, however, IEC won a $3.7 million contract to manufacture guided missile firing system components for a aerospace & defense customer, and announced it would build the assemblies at the Albuquerque location.

Closing is contingent upon satisfactory completion of an inspection and certain other customary closing conditions and should take place in the current quarter.

• Prev
• Next