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July 17, 2007 |
Canam Group Acquires a Plant in the U.S. Bridge Sector |
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(BOUCHERVILLE, QC) – Canam Group Inc. (TSX – CAM), specialized in the design and fabrication of construction products and solutions, today announced the acquisition of the majority of the assets of Eastern Bridge, LLC by Canam Steel Corporation, its U.S. subsidiary. The amount of the transaction was not revealed. Eastern Bridge, which is located in Claremont, New Hampshire, specializes in the fabrication of steel structures for road and railway bridges with annual sales totaling approximately US$10 million. Operations at the plant will be conducted under the management of the Structal-Bridges business unit.
“This transaction is in line with Canam Group’s strategy of growing its presence on the U.S. bridge market and enables us to take part in projects that, because of Buy American legislation, are only accessible to producers with a manufacturing presence in the U.S. We also believe that this transaction will increase activities substantially at the 180,000 sq. ft. Claremont plant. Over the coming months, we plan to invest the amounts necessary to optimize production and increase the fabrication capacity of the plant,” stated Mario Bernard, President, Structal.
Robert Dutil, Vice president and general manager at Structal-Bridges, expects that this transaction will have a positive impact on the company’s results beginning in the fourth quarter of 2007.
Canam Group Inc. is an industrial company operating 12 plants specialized in the design and fabrication of construction products and solutions. The company employs close to 3,000 people in Canada, the United States, Romania and India, and has partnerships with companies in Mexico, France, Saudi Arabia, the United Arab Emirates, Russia and China.
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| Nancy Bouffard |
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