NANAIMO, BC , June 5, 2020 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (AEP.V) (OTC Markets: APEUF) is pleased to announce the completion of a new engineered wood supply arrangement with Taiga Building Products for all of its operating facilities across Canada . This national arrangement replaces the regional supply arrangement announced last year for Eastern Canada . It is expected that this relationship with Taiga will result in significant cost savings. In addition, AEP believes that the guaranteed lead times and re-order and delivery elements provided by the Taiga supply arrangement will make a significant impact on customer satisfaction and project schedules.
"Working with an experienced public company like Taiga, with operations across Canada and globally, allows AEP to execute its strategy to capitalize on economies of scale while maximizing efficiencies and price in our quest of becoming the building components supplier of choice," said AEP CEO Dirk Maritz . "All of our current facilities across Canada will benefit from the certainty in supply and resulting cost savings."
Taiga is the leading independent wholesale distributor of building materials. Publicly listed, Taiga operates 15 distribution centres in Canada , 3 distribution centres in the Western USA and 6 reload stations in Eastern USA — ensuring that standing inventory (specific to each market) is always available.
"The seasonality of the construction industry has, in the past, resulted in supply and delivery challenges for all manufacturers of roof and floor trusses, wall panels, engineered wood, windows and doors," explained AEP Vice President of Operations, Gurmit Dhaliwal . "This comprehensive approach to engineered wood supply will ensure we maximize our opportunities to expand our current markets and penetrate new geographies. We have been really successful growing our market share with engineered wood products in Western Canada . With our advanced design capabilities and this deal, we can now do the same across Canada ."
About Atlas Engineered Products Ltd.
AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively, giving us a unique opportunity to consolidate a fragmented industry of independent operators.
Forward Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: Risks and uncertainties relating to AEP, including those to be described in the Management's Discussion and Analysis ("MD&A") for AEP's year ended December 31 , 2019. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information.
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SOURCE Atlas Engineered Products Ltd.
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