TSX: SPF.UN CALGARY, Nov. 7 /CNW/ - Superior Plus Income Fund (the "Fund") announced today that it has come to its attention that a news release has been made by a third party claiming that Superior Plus has entered into an agreement to sell the JW Aluminum business. The Fund had announced in July 2006, as part of its strategic plan designed to maximize unitholder value and achieve long-term stability and growth that it would put JW Aluminum up for sale with proceeds to be used to reduce debt. To date, the Fund is in active negotiations and discussions and no definitive agreement has been reached between the parties and it is not certain whether or not an agreement will be concluded. JWA is a leading manufacturer of specialty, flat-rolled aluminium products, primarily serving the heating, ventilation and air conditioning, building and construction and flexible packaging end-use markets in the United States. About the Fund -------------- Superior Plus Income Fund is a diversified business trust. The Fund holds 100% of Superior Plus LP, a limited partnership formed between Superior Plus Inc., as general partner and the Fund as limited partner. Superior Plus has four Canadian based operating divisions: Superior Propane is Canada's largest distributor of propane, related products and services; ERCO Worldwide is a leading supplier of chemicals and technology to the pulp and paper industries, a regional Midwest supplier of chloralkali products and the third largest producer of potassium products in North America; Winroc is the seventh largest distributor of walls and ceilings construction products in North America; and Superior Energy Management provides fixed price natural gas supply services in Ontario and Quebec. The Fund's trust units and convertible debentures trade on the Toronto Stock Exchange as follows: << Trading Symbol Security Issued and Outstanding ------------------------------------------------------------------------- SPF.un Trust Units 85.5 million SPF.db 8% Debentures, Series 1 $ 8.1 million principal amount SPF.db.a 8% Debentures, Series 2 $ 59.0 million principal amount SPF.db.b 5.75% Debentures $174.9 million principal amount SPF.db.c 5.85% Debentures $ 75.0 million principal amount ------------------------------------------------------------------------- >>
Superior Plus In Discussions to Sell JW Aluminum
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Earlier from Superior Plus
- Superior Plus Income Fund - 2006 Third Quarter Analyst Conference Call - Time Change
- Superior Plus Income Fund - October 2006 Cash Distribution and Upcoming Events
- Superior Plus Appoints Chief Financial Officer
- ERCO Valdosta Power Contract Update
- Superior Plus Income Fund Announces Completion of Internal Reorganization
Later from Superior Plus
- Superior Plus Income Fund - 2006 Third Quarter Analyst Conference Call - November 9, 2006
- Superior Plus Reaches Agreement to Sell JW Aluminum
- Superior Plus Income Fund 2006 Third Quarter Release and November 2006 Cash Distribution Notice
- Superior Plus Income Fund - December 2006 Cash Distribution - $0.13 per Trust Unit
- Superior Plus Completes Sale of JW Aluminum
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