Armtec Declares Special Distribution for Fourth Consecutive Year and Increases 2008 Monthly Cash Distribution



    Toronto Stock Exchange: ARF.UN

    GUELPH, ON, Dec. 12 /CNW/ - Armtec Infrastructure Income Fund
(TSX: ARF.UN) today announced that it will pay a special distribution of $0.17
per unit in addition to the $0.14 per unit regular monthly cash distribution
for the month of December. The Board of Trustees also declared an increase of
$0.01 per unit in the monthly cash distribution to $0.15, or $1.80 per unit
annualized for the month of January 2008.
    "The special distribution payment and the increase in monthly
distributions is as a result of the underlying strength of Armtec's business
and our continued ability to generate added value for unitholders," said
Charles M. Phillips, President and CEO of Armtec. "Our October acquisition of
Con-Force's precast and pre-stressed concrete business has been a major step
forward for the Fund by providing significant momentum through an expanded
product base that positions Armtec to service large infrastructure projects
requiring specialized engineered solutions."
    Following the special cash distribution, the Fund does not expect to pay
income tax on the current year's earnings. The monthly distribution levels for
2007 were increased to $0.14 per unit in October from $0.13. In combination
with the December special distribution, the Fund is pleased with the increased
cash distributions declared of $5.1 million or 32% over 2006 levels.
Unitholders of record throughout 2007 will receive a total cash distribution
with respect to the current year of $1.76 per unit, a 5% increase over the
2006 cash distribution of $1.68 per unit.
    The regular cash distribution for December will be paid on January 15,
2008, and the special cash distribution will be paid on January 25, 2008. Both
distributions will be paid to unitholders of record at the close of business
on December 31, 2007. The ex-distribution trading date for both distributions
is December 27, 2007. The regular cash distribution for January will be paid
in cash on February 15, 2008, to unitholders of record at the close of
business on January 31, 2008.

    About Armtec
    ------------
    Armtec is a leading manufacturer and marketer of drainage products and
engineered bridging solutions for infrastructure applications in a diverse
cross-section of industries, including the public infrastructure market and
private sector markets such as natural resources, residential drainage and
agricultural drainage in Canada. Armtec is Canada's only national
multi-material manufacturer specializing in corrugated high-density
polyethylene pipe, corrugated steel pipe for drainage applications and
engineered solutions such as Bridge-Plate and Multi-Plate for bridging
applications. Armtec's Con-Force division designs and manufactures a wide
range of bridging and commercial construction products including the advanced
"NU" bridge girder system, allowing for some of the longest spans available in
pre-cast concrete technology.

    Forward-Looking Statements
    --------------------------
    This news release contains forward-looking statements, including the
statements concerning income tax on the Fund's earnings for the current year,
increase in consolidated revenues, expansion of product base and ability of
Armtec to service large infrastructure projects requiring specialized
engineered solutions, as well as the payment of the regular and special cash
distributions. These forward-looking statements are based on current
expectations and are subject to a number of uncertainties and risks and the
actual results may differ materially. The statements concerning income tax on
the Fund's earnings for the current year, increase in consolidated revenues,
expansion of product base and ability of Armtec to service large
infrastructure projects requiring specialized engineered solutions, as well as
the payment of the regular and special cash distributions are based on the
following assumption that: the Fund's performance will be in line with the
expectations of management for the remainder of the year. The risks and
uncertainties which could cause the actual results to differ materially from
such forward-looking statements include, but are not limited to: competition;
reductions in demand for Armtec's products; collections from customers;
relationships with suppliers; expiration of rights under license and
distribution arrangements; raw material price volatility; product liability;
intellectual property; reliance on key personnel; collective bargaining
agreements; interest rates; uninsured and underinsured losses; environment,
health and safety requirements; operating hazards; risk of future legal
proceedings; dependence of the Fund on Armtec Limited Partnership; and certain
risks associated with the structure of the Fund including income tax matters;
leverage and restrictive covenants; credit facility; nature of units; effect
of market interest rates on the price of units; restrictions on potential
growth; and cash distributions are not guaranteed. Although the
forward-looking statements contained in this report are based upon what
management of Armtec believes are reasonable assumptions, the Fund cannot
assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made as of
the date of this release and the Fund assumes no obligation to update or
revise them to reflect new events or circumstances. Further information about
these and other risks and uncertainties can be found in the disclosure
documents filed by Armtec Infrastructure Income Fund with the securities
regulatory authorities, available at www.sedar.com.





For further information:

For further information: Charles M. Phillips, President & Chief
Executive Officer, Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519)
822-8894; Carrie Boutcher, VP, Finance & Interim Chief Financial Officer,
Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519) 822-8894

Organization Profile

ARMTEC INFRASTRUCTURE INCOME FUND

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890