Prestige further extends its Outside Plant Engineering Services into
MONTREAL, Oct. 22 /CNW Telbec/ - Prestige Telecom Inc. ("Prestige"), (TSX
Venture: PR ) today announced that it has purchased all of the issued and
outstanding shares of KEEN Communication Services Ltd. ("KEEN"). The purchase
price was $1,100,000 Canadian with $500,000 payable at closing and the balance
payable in equal quarterly payments over four years.
KEEN is an engineering firm based in Surrey, British Columbia with branch
offices in Calgary, Edmonton and Halifax, that provides engineering services
to companies in the telecommunications services industry. KEEN services
include outside plant engineering and design for both aerial and underground
network infrastructure construction.
"The combination of KEEN and Prestige together with our recent
acquisition of Plantec Inc. now gives us the capability to address outside
plant engineering opportunities across all of Canada. We are very pleased to
have Colin Bell and his team join us at Prestige as we continue to build on
our leadership position in providing outside plant engineering services to the
telecommunications and cable TV industries" added Brian McFadden, President
and Chief Operating Officer of Prestige.
"When Prestige first approached me with their acquisition proposal, I
felt confident that the venture would be a success. KEEN has always moved
forward when a positive opportunity presents itself, and I see this
acquisition as a strategic step for the growth of KEEN and Prestige. Together
KEEN and Prestige have the experience, financial stability and the resources
to be successful across Canada and the United States" said Colin Bell,
President and General Manager of KEEN Communication Services Ltd. Mr. Bell
will remain under contract to Prestige.
Brian Mc Fadden concluded: "KEEN's strong management team combined with a
highly experienced staff and access to an extensive local design resource base
qualify the company as a leader in their field. KEEN's reputation with their
clients throughout the telecommunications industry is second to none which is
proven by the fact that they have retained strong client relations through
many years and have continued to provide and grow their services to meet their
KEEN'S team are professional engineers, engineering technicians,
surveyors, CAD technicians, geographical information systems technicians and
construction administration professionals who have extensive knowledge of the
telecommunications Industry and years of experience successfully completing
outside plant design projects across Canada.
KEEN is proficient in all areas of outside plant design including aerial
and underground networks, infrastructures and turn-key projects. KEEN's
comprehensive engineering design services include: Route Feasibility and
Planning Studies; Surveys and Mapping; Direct Buried Duct and Concrete Encased
Conduit Systems; Specialized Permitting including Municipal, Provincial &
Federal Agencies, Utility Crossings, Waterways and Rail; Aerial and
Underground Copper and Fibre Optic Design; CADD and Micro Station Services;
IMAGE, SAP and CET Proficiency; Field Inspection and As-Built Drawings and
Prestige is one of Canada's leading independent companies offering
engineering, material furnishing and installation services ("EF&I") to
telecommunication and cable companies and has been active in this line of
business since 1980. The services offered by Prestige include outside plant
engineering, central office design, material furnishing, installation and
support services for wireline, wireless and cable television network operators
as well as original equipment manufacturers ("OEM's").
Prestige operates from three full service locations located in Montreal,
Quebec; Toronto, Ontario; and Calgary, Alberta, and has more than 300
professional and technical personnel. Prestige operates in the United States
market through a mutual subcontractor agreement with Comforce Corporation
(AMEX: CFS) under the trade name Prestige Comforce Professional Services
("PCPS"). PCPS is based in Plano, Texas and provides services to customers
throughout the United States.
To learn more about Prestige Telecom Inc. (TSX Venture: PR), please visit
our website at www.prestige-tel.com or visit SEDAR at www.sedar.com.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy of this release.
For further information:
For further information: Brian McFadden, President and Chief Operating
Officer, (514) 457-4488, ext.263, firstname.lastname@example.org; Elisabeth
Preston, Corporate Secretary, (613) 614-4884, email@example.com