Futaba to Sell Alabama Factory; Expects 490 Million Yen Gain

Futaba will sell a factory and land owned by its US subsidiary in Alabama as part of a consolidation effort, according to a Wednesday filing on the Tokyo Stock Exchange. The site, owned by Futaba Corp. of America, will be sold for $3.9 million (575 million yen), generating an estimated gain of 490 million yen. The transaction is set for completion on May 15.