I don't know. Its possible the company needed the cash to satisfy debt or cash flow issues, but also possible that management came to the conclusion that the fusible pipe line was not going to provide the bump longer term they had once thought and decided this was a good time to exit that business and focus on other lines.
I believe the jury is still out whether this was, or will be, a good move. I happen to like the other lines they are in, but I suspect those need a lot of growth to make much money.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.