Atlas Engineered Products Makes Final Installment Payment for South Central Building Systems
Atlas Engineered Products (“AEP” or the “Company”) is pleased to announce it has made the final $100,000 installment payment due to the former shareholders of South Central Building Systems (“SC”), which was acquired by the Company in March 2019. Three former SC shareholders elected to receive their pro rata share of the final installment payment in AEP common shares as provided for under the previously announced terms of the SC acquisition. As a result of this election, a total of 225,000 AEP common shares were issued to former SC shareholders.
“South Central is a best in class operation with efficient automation which has already shown capacity to increase output and product lines since the acquisition,” said AEP CEO Dirk Maritz. “We continue to serve a loyal and growing customer base in Southern Manitoba and look forward to potential entry into markets in Minnesota and North Dakota.”
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.
Source: Atlas Engineered Products Ltd.