Business
Atlas Engineered Products Announces Acquisition of Assets from ZyTech Building Systems LP, Langley
Atlas Engineered Products Announces Acquisition of Assets from ZyTech Building Systems LP...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n \n \n \n Atlas Engineered Products Announces Acquisition of Assets from ZyTech Building Systems LP, Langley\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NANAIMO, BC\n \n ,\n \n Jan. 18, 2021\n \n /CNW/ - Atlas Engineered Products Ltd. (\"AEP\" or the \"Company\") (TSX-V: AEP) (OTC Markets: APEUF) announced today that the Company has reached an agreement with ZyTech Building Systems LP (\"ZyTech\") to acquire the bulk of ZyTech's manufacturing assets from its former\n \n Langley\n \n location in the Lower Mainland of\n \n British Columbia\n \n .\n \n \n \"Last year we increased our footprint in\n \n British Columbia\n \n by expanding into the Lower Mainland through Novum Building Components Ltd. (\"Novum\") and by adding a pre-manufactured wall plant at our Atlas Building Systems Ltd. operations in\n \n Nanaimo\n \n on Vancouver Island.  Now with this asset purchase from Zytech, we are adding advanced technology equipment to our business, and it will improve our profitability at several locations,\" said\n \n Dirk Maritz\n \n , AEP's CEO & President.\n \n \n \"During 2020, the BC construction industry experienced minimal impact, which made the continued expansion of our BC operations a priority. ZyTech's decision to focus on its\n \n Alberta\n \n and US assets marks the departure of a local industry competitor and also yields an opportunity to bolster our Vancouver Island and Lower Mainland facilities. These equipment additions are anticipated to result in significant increases in efficiency and further strengthen our position as a full service solutions provider. We have worked exceptionally hard to position ourselves in this way and we are proud to be offering a full and expanded range of products including pre-manufactured wall-panels, manufactured floor trusses, I-joists, LVL options, open web floors, roof trusses and other engineered wood products to the very large and buoyant BC market,\" continued Mr. Maritz.\n \n \n The equipment purchase is expected to close on\n \n January 31, 2021\n \n at a purchase...