Business
Atlantic Power and Infrastructure Acquires Controlling Interest in K.B. Industries UK Ltd
Atlantic Power and Infrastructure Acquires Controlling Interest in K.B. Industries UK Ltd.
About this update from Atlantic Power & Infrastructure Corp.
[{"type":"text","content":"K.B. Industries UK Ltd, sellers and installers of KBI's Flexi®-Pave since 2010 agrees to join the ever-expanding API portfolio of rapidly expanding international entities.TAMPA BAY, FL / ACCESSWIRE / August 17, 2021 / Atlantic Power and Infrastructure Corp. (OTC PINK:AWSL) is pleased to announce the acquisition of the controlling interest in one of the International sellers and installers of KBI's proprietary technology Flexi®-Pave and its related products.Based in South Yorkshire, England, K.B. Industries UK Ltd have independently been selling and installing KBI's Flexi®-Pave and it's related products since 2010. K.B. Industries UK Ltd has proudly installed Flexi®-Pave in numerous world-renowned locations such as; Legoland in Windsor; Whitehall London; Lincoln Castle (where Downton Abbey was filmed). Numerous installations are shown on their website: https://www.kbiuk.co.ukK.B. Industries UK have seen steady growth in sales with sales of £1,865,505 (USD$2,586,801) in 2018 and £2,135,925 (USD$2,961,778) in 2019. The year 2020 saw a increase to over £2,700,000 (USD$3,700,000) and are currently installing the largest contract secured of 17,000 Sq M (183,000 Sq Ft) in Swinton Greenway, Salford. Orders are seeing increase as markets are opening up throughout the United Kingdom.This acquisition will not involve any major changes in the operations and management of K.B. Industries UK Ltd., however added API technologies will be available to the product portfolio in the UK. It is the goal of API to expand its full range of technologies through direct involvement in all international operation.The acquisition of no less than 54% of KB Industries Ltd will see 10,800,000 shares of Atlantic Power & Infrastructure issued to the shareholders of KB Industries UK Ltd.Kevin Bagnall Chairman and CEO of API stated, "The inclusion of K.B. Industries UK Ltd into the API portfolio brings about benefits for both entities to show greater growth, especially with the additional technologies that are now under the API umbrella! As other international operations are added to the API portfolio, the expansion and recognition of API's technologies should result in greater market growth internationally."Atlantic Power and Infrastructure Corp…a vehicle for proven sustainable environmentally beneficial tech...