Superior Plus (TSE:SPB) to sell construction products business

Superior will receive the equivalent of C$420 million from a U.S. company for its construction products division

Superior Plus Corp. (TSE:SPB) is selling its construction products business to a U.S. company for the equivalent of C$420 million.

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The US$325-million agreement was announced Tuesday by Toronto-based Superior, a few days after the collapse of a proposed takeover of Canexus Corp., a Calgary-based chemical company.

Superior Plus has a diversified business in three industries, including propane distribution and specialty chemicals.

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