NANAIMO, BC, May 21, 2024 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce the acquisition of an additional 1 acre of industrial zoned land adjacent to its Clinton Building Components ("Clinton") facility in Clinton, Ontario. This is in addition to another 1.5 acres of land purchased immediately adjacent to Clinton a few years ago. This expansion is integral to the Company's ongoing efforts to enhance manufacturing capabilities through automation and robotics.
Both parcels of land will be developed to support future robotic automation projects aimed at boosting operational efficiencies and expanding production capacity to meet housing demands. "With this acquisition, we are positioning ourselves to meet the steady demand we see in the market, despite high interest rates remaining unchanged. This proactive expansion and automation initiative shows our commitment to staying ahead of industry trends and demand curves," said Hadi Abassi, CEO & President of AEP.
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 and apply new technologies, 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, 2023. 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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