TEMECULA, Calif.--(BUSINESS WIRE)--Patient Safety Technologies, Inc. (PST) (OTCBB:PSTX) announced today that its wholly-owned subsidiary, Automotive Services Group, LLC, has entered into a binding Term Sheet to sell its express car wash located in Birmingham, Alabama, and entered into contracts to sell two parcels of land located in Tuscaloosa and Trussville, Alabama. If sold, the Company will receive gross proceeds of approximately $3.2 Million, of which $1.5 Million is for the express car wash and $1.7 Million is for the two parcels of land. There can be no guarantee that the execution of these contracts will result in a transaction.
