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Atlas Engineered Products Announces Acquisition of Hi-Tec Industries in British Columbia
Atlas Engineered Products Announces Acquisition of Hi-Tec Industries in British Columbia ...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n \n \n \n Atlas Engineered Products Announces Acquisition of Hi-Tec Industries in British Columbia\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; BORDER-TOP:black 0pt initial; BORDER-RIGHT:black 0pt initial; BORDER-BOTTOM:black 0pt initial; BORDER-LEFT:black 0pt initial\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NANAIMO, BC\n \n \n ,\n \n \n March 1, 2022\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 Hi-Tec Industries Ltd. (\"Hi-Tec\") located in\n \n Lantzville, British Columbia\n \n . The letter of intent entered in to for this transaction was previously announced on\n \n November 24, 2021\n \n .\n \n \n \"We are excited to announce the acquisition of Hi-Tec.  Hi-Tec is a successful, well-run business and when this acquisition opportunity arose it was too good to pass up. The future synergies with our Atlas Building Systems location and additional customer base for product expansion is exciting and our team is looking forward to this integration moving forward,\" said Hadi Abassi, AEPs CEO, President and Founder. \"AEP has completed the next step in expanding its footprint in\n \n British Columbia\n \n where seasonality and the effects of winter are not as impactful as the rest of\n \n Canada\n \n .\"\n \n \n Hi-Tec manufactures roof trusses and sells engineered wood products to a strong, loyal customer base on Vancouver Island in\n \n British Columbia\n \n . This location is just under 15 minutes north of AEP's Atlas Building Systems location in\n \n Nanaimo, British Columbia\n \n which will offer some unique synergies from labour to shipping to equipment and more. During its last fiscal year ended\n \n August 31\n \n 2021, Hi-Tec earned unaudited re...