CVTech Group Inc. terminates letter of intent for an acquisition
DRUMMONDVILLE, QC, Oct. 25, 2013 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or "the Corporation") (TSX: CVT) today announced the termination of a letter of intent to acquire all the issued and outstanding shares of a U.S. company engaged in providing electrical services mainly to the utility industry.
The Corporation remains on the lookout for any further strategic acquisition that would enhance its geographical reach, its expertise and its service offering in all of its target markets.
OVERVIEW OF THE CORPORATION
CVTech is a company operating in the energy sector. The Corporation is a leading provider of construction and maintenance services to the public utility and heavy industrial markets mainly in Quebec, Ontario and the eastern United States. Through its subsidiaries, the Corporation provides maintenance and construction services for electricity transmission and distribution networks, substations and electrical power houses, as well as the control of vegetation on rights-of-way for electrical lines.
This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.
SOURCE CVTECH GROUP INC.For further information:
André Laramée, MBA
President and Chief Executive Officer
Mario Trahan, CPA, CMA
Chief Financial Officer
Martin Goulet, CFA