Company: SIF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000090168-25-000032
Chunk: 7

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
2025, the Company recognized a total gross benefit of $ 3,373 2,859 514

•$ 2,406

•$ 453

•$ 514

Additionally, the Company incurred $ 675 no 706

2. Discontinued Operations

The Company committed to sell CBlade in August 2024 in order to streamline operations and refocus on its core aerospace forging entities. On August 1, 2024, the Company’s Board of Directors approved and authorized the execution of a share purchase agreement (the “ SPA”), under which SIFCO Irish Holdings, Ltd., a wholly owned subsidiary of the Company, entered into an agreement to sell 100 20,000 13,800

In October 2024, upon regulatory approval, the Company completed the CBlade Sale and received cash consideration of approximately $ 14,516 422

Due to the CBlade Sale, the Company ceased manufacturing operations within the European market, as CBlade represented the last remaining facility in this region. Prior to the transaction, CBlade was directly owned by SIFCO Irish Holdings Inc., a wholly-owned subsidiary of the Company incorporated in Ireland (“ Irish Holdings”), which historically acted as the holding company for the Company's international operations. With the disposal of CBlade, the Company determined that its European operations represented a substantially complete liquidation. Therefore, $ 5,851 90

The principal components of the assets and liabilities related to discontinued operations classified as held for sale as of September 30, 2024 were as follows:

                                                    September 30, 2024              
 ────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                            
  Current assets:                                                                   
  Cash and cash equivalents                         $                        1,009  
  Short-term investments                                                     1,114  
  Receivables, net                                                           6,259  
  Inventories, net                                                           6,185  
  Prepaid expenses and other current assets                                  1,400  
  Total current assets                                                      15,967  
  Property, plant and equipment, net                                         6,625  
  Other long-term assets                            239                             
  Total assets of discontinued operations           $                       22,831  
  LIABILITIES                                                                       
  Current liabilities:                                                              
  Current maturities of long-term debt              $                        3,843  
  Accounts payable                                                           2,770  
  Accrued and other current liabilities