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Atlas Engineered Products Announces Acquisition of a Truss and Wall Panel Manufacturer in New Brunswick, Canada
Atlas Engineered Products Announces Acquisition of a Truss and Wall Panel Manufacturer in New Bru...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n \n \n \n Atlas Engineered Products Announces Acquisition of a Truss and Wall Panel Manufacturer in New Brunswick, Canada\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NANAIMO\n \n , BC\n \n ,\n \n \n Aug. 23, 2023\n \n \n /CNW/ - Atlas Engineered Products (\"AEP\" or the \"Company\") (TSXV: AEP) (OTC Markets: APEUF) announced today that the Company has completed the acquisition of Léon Chouinard et Fils Co. Ltd./Ltée. (\"LCF\") located in\n \n New Brunswick, Canada\n \n . LCF is a manufacturer of roof trusses, floor systems, and wall panels and a supplier of engineered wood products (\"EWP\").\n \n \n \"We are excited to announce the acquisition of our 8\n \n th\n \n manufacturing facility. Now is the time to move forward with a strategic acquisition that expands our reach into a new location as we continue to grow our national footprint,\" said Hadi Abassi, CEO, President and Founder of the Company. \"LCF fits nicely into our overall, long term strategic plan and we are excited they have joined the AEP group of companies. The Company is currently reviewing a number of additional acquisition targets and will maintain a disciplined approach to acquiring new manufacturing facilities that fit our long-term goals.\"\n \n \n This transaction is aligned with the Company's strategic acquisition plan and expands the Company's geographical reach, as well as growing its wall panel manufacturing expertise and capacity. In 2022, LCF generated over\n \n $25.7 million\n \n in revenues, net income of over\n \n $6.3 million\n \n and non-IFRS measure normalized EBITDA of approximately\n \n $9.47 million\n \n (see \"Non-GAAP/Non-IFRS Financial Measures\"). Moving forward, AEP anticipates being able to...