PFB Corporation Announces Closing Property Purchase in Crossfield, Alberta

STOCK SYMBOL: PFB

CALGARY, Feb 28, 2017 /CNW/ - (TSX – PFB)

PFB Corporation ("PFB") announces that it has closed the previously disclosed transaction whereby it has acquired 27 acres of land and three manufacturing facilities in Crossfield, Alberta that it occupied under a leasing agreement. The purchase price of $18.8 million was paid with cash from its treasury of approximately $9.6 million and the balance of $9.2 million through mortgage proceeds.  

About PFB

PFB Corporation has two operating subsidiaries, Plasti-Fab Ltd. that operates in Canada and PFB America Corporation that operates in the United States. PFB develops, manufactures and markets insulation building products and technologies based on expanded polystyrene technology; that, when used as components of a building envelope, enable residential and commercial structures to be highly energy-efficient. We are also experts in engineered geotechnical applications of our products. PFB building products are used in both new and renovation markets in residential, commercial and industrial projects.

The group is vertically integrated in manufacturing insulating building products marketed across North America under brandnames, Plasti-Fab, EPS Product Solutions®, Advantage ICF Systems®, Insulspan® Structural Insulating Panels Systems, and the PFB Custom Homes Group which includes Riverbend® Timber Framing, Precision Craft® Log & Timber Homes, Point Zero Homes and M.T.N. Design. 

PFB Corporation is listed for trading on the Toronto Stock Exchange, under the symbol PFB.

SOURCE PFB Corporation

For further information: C. Alan Smith, Chief Executive Officer, PFB Corporation, 100, 2886 Sunridge Way N.E., Calgary, Alberta T1Y 7H9, Tel: (403) 569-4332


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