Shares should trade under symbol NPC effective September 11, 2014
DRUMMONDVILLE, QC, Sept. 9, 2014 /CNW Telbec/ - CVTech Group Inc.
("CVTech" or the "Corporation") (TSX: CVT) announces that it has
officially adopted, effective today, the name NAPEC Inc. ("NAPEC"). The
change follows shareholder approval at the Corporation's annual and
special meeting held on July 23, 2014.
The change of name of the Corporation is required following the sale, in
October 2012, of its operations in the CVT systems and related products
segment. Pursuant to this transaction, the Corporation had notably
undertaken to proceed with the change of name within two years.
Furthermore, the Corporation believes that the new name will be more
representative of the sector in which it currently operates and the
image it wishes to project in its target markets.
The name NAPEC is drawn from the Corporation's field of business and
geographic reach: a North American Power and Energy Corporation. The
new logo, more modern in style with rectilinear, regularly spaced
lettering, reflects mechanical precision and discipline, two conditions
essential for excellence in NAPEC's industry.
The stylized yellow lightning bolt symbolizes energy.
The triangle replacing the letter A represents stability, the structure
of a powerline pylon and a will to aim high and stand out.
Bright yellow symbolizes what people have in mind when they imagine the
colour of energy.
"The adoption of this new name reflects a vision of synergy, teamwork
and renewal. The new brand image will also reinforce the efforts being
made to gradually implement our new business model across our North
American network", said Pierre L. Gauthier, President and Chief
Executive Officer of NAPEC.
NAPEC shares should trade on the Toronto Stock Exchange under the symbol
NPC effective September 11, 2014.
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.
OVERVIEW OF THE CORPORATION
NAPEC is a corporation 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 powerhouses, as well as control of vegetation on
rights-of-way for electrical lines.
Further information regarding NAPEC is available in the SEDAR database (www.sedar.com) and on the Corporation's website at www.napec.ca.
SOURCE: NAPEC Inc..
For further information:
Pierre L. Gauthier
President and Chief Executive Officer
Mario Trahan, CPA, CMA
Chief Financial Officer
Martin Goulet, CFA