Business
Garneau Inc. to invest $5 million CDN into Camrose coating operation
Garneau Inc. to invest $5 million CDN into Camrose coating operation.
About this update from Green Arrow Resources, Inc.
[{"type":"text","content":"\n\n\n\n\nTSX - GAR\n\nNISKU, AB, Nov. 7 /CNW/ - Garneau Inc. (GAR:TSX) today announced that the\nCorporation will invest over $5 million into a major capital expenditure\nprogram for the Corporation's Camrose coating operation.\nThis major capital expenditure program is expected to increase overall\ncoating capacity and efficiencies at Garneau's Camrose plant, which contains a\n65,000 sq ft building located on 130 acres with access to a rail spur. The\nCorporation will be upgrading the coating facility's two existing coating\nlines with new technological equipment designed, fabricated and installed by\nthe Garneau's fabrication business located in Nisku. The facility will be able\nto coat pipe more efficiently to meet increasing market demand and improve\ndelivery times. The aggressive program reflects Garneau's commitment to\nimproving the level of service provided to our existing clientele.\nThis program will commence in the fourth quarter of 2006 and will be\ncompleted in four phases.\n\nAbout Garneau Inc.\n\nGarneau Inc.'s primary business is the application of high performance\nprotective coatings and linings for oil and gas pipeline protection.\nAdditionally, Garneau Inc. designs and fabricates oilfield equipment for both\ndomestic and international markets. During more than 30 years of operating\nexperience, Garneau Inc. has developed significant expertise and innovative\ntechnology, and has maintained a long-term focus on continuously improving the\npipe coating process with cost-effective, quality coatings. A talented and\neffective management team provides the vision and experience for long-term\nprofitable growth and increasing shareholder value. The company's Website can\nbe accessed at: http://www.garneau-inc.com/\n\nThis news release contains forward-looking information that represents\ninternal expectations, estimates or beliefs. Certain statements contained\nwithin this news release constitute forward-looking statements. The use of\nanyof the words \"anticipate\", \"continue\", \"expect\", \"may\", \"will\", \"project\",\n\"should\", \"believe\", and similar expressions are intended to identify forward\nlooking statements. The expectations, estimates and beliefs contained in such\nforward-looking statements necessarily involve known and unknown risks and\nuncertainties which may cause the Fund's actual performan...