BEAVERTON, OR -- Merix Corp. has reached a binding agreement to sell the building and long-term land lease of its former Hong Kong manufacturing facility for HK$85.8 million (US$11.1 million). The sale is anticipated to close in this spring.

Merix expects to net $9.5 million from the transaction, which is contingent upon approval by the Hong Kong Science and Technology Park and the buyer completing required financing. The building and land lease are currently held on Merix financial statements at zero net book value.

Merix itself is being acquired by Viasystems in a deal expected to close shortly.