NANAIMO, BC, Dec. 12, 2019 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSX-V: AEP; OTC Markets: APEUF) is pleased to provide an additional update regarding their significant contracts being awarded at its three facilities in Western Canada.
"As the construction industry embraces the shift to customized engineered roofs, walls, floors and beams, particularly for multi-family developments, the value and size of individual AEP projects and client relationships is growing rapidly," explained AEP President and CEO Dirk Maritz. "By investing in new technology, design and engineering capacity we are able to offer additional product lines and turn-key project delivery. AEP is continuing, on a weekly basis, to secure significant projects into the new year. We are scheduling an unprecedented number of projects to carry into Q1 2020 and beyond".
Atlas Building Systems (Nanaimo, BC) continues to expand their multi-family development business with significant multi-product contracts.
- Four multi-family development projects totaling over $2,300,000 of combined Engineered Wood Product (EWP) and Truss packages.
- Three multi-family development projects with combined contracts for Truss and Laminated Veneer Wood totaling more than $260,000.
Coastal Windows & Doors (Nanaimo, BC) client base continues to grow on Vancouver Island and is now expanding into the BC interior.
- Kelowna multi-family development - $295,000
- Victoria multi-family development - $374,000
South Central Building Systems (Carman, MB) is in the midst of a significant four-story project in downtown Winnipeg that will employ both roof and floor trusses custom manufactured at the facility.
- The contract is worth over $300,000.
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. The Company 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 the Company's control. Such factors include, among other things: Risks and uncertainties relating to the Company, including those to be described in the Management's Discussion and Analysis ("MD&A") for the Company's three and nine months ended September 30, 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, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Atlas Engineered Products Ltd.
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