Tefron to sell Alba Health

Misgav-based Tefron expects proceeds of about $11m. from the sale over a three year period and said it would record a loss of approximately $6.5m in the fourth quarter related to the sale.

Tefron Ltd. said Thursday it would exercise of its option to require Alba Health LLC to purchase Tefron's ownership interest in Alba Health, which manufactures and sells textile healthcare products. Misgav-based Tefron, which produces seamless intimate apparel and active wear, expects proceeds of about $11 million from the sale over a three year period and said it would record a loss of approximately $6.5m in the fourth quarter related to the sale.