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MONTREAL, June 29 /CNW Telbec/ - Atis Group Inc. announced today that it has decided not to proceed with the previously announced proposed initial public offering of its common shares due to unfavourable market conditions caused by uncertainty in the equity markets.
"Given the increased uncertainty and volatility in the markets, primarily due to macro economic circumstances, we believe it is best to defer the offering at this time," said Robert Doyon, President and CEO of Atis Group. "We will continue to execute our business plan according to our growth objectives and reconsider the IPO in the future when equity market conditions are more favourable."
Atis Group has experienced constant sales growth since 2004 and maintained stable financial performance during the recent economic downturn. The company has a broad portfolio of recognized brands with a long-standing reputation developed over 60 years.
About Atis Group Inc.
Atis Group Inc. is one of the largest Canadian manufacturers and marketers of windows and doors serving all end-markets, with 11 manufacturing facilities, 21 corporate points of sale, over 1,600 employees and operations all across Canada. Atis Group Inc. manufactures, distributes and markets a complete range of doors, windows and high performance energy-efficient products for the construction and home improvement markets through its affiliated companies: Allied Windows, Allsco, Extrusion SP, Laflamme, Melco, Phoenix Glass, Solarcan, Vimco and Vinylbilt.
SOURCE ATIS GROUP INC.
For further information: For further information: Media: Roch Landriault, NATIONAL Public Relations, Tel: 514-843-2345