The Windsor plant site on Day Hill Road housing Turbotec Products Inc. is the target of foreclosure actions by Wells Fargo Bank to collect more than $1.8 million, Turbotec says.
Turbotec Products plc, the British parent of the U.S. maker of heat exchangers, said Wells Fargo filed foreclosures suits in Connecticut state court against Turbotec’s major shareholder, Thermodynetics, which owns the properties at 651 Day Hill Road.
Turbotec Products said it has been named a defendant in the suits, adding that, as a tenant, it isn’t liable for any of the sums Wells Fargo claims.
Last April, Thermodynetics agreed to sell a 25.65 percent stake in Turbotec Products Plc to a group led by U.K.-based Execuzen Ltd. for $1.3 million, according to an 8-K filing with the U.S. Securities and Exchange Commission.
At the time, Turbotec and Thermodynetics said they were embroiled in litigation with each other.
