SAINT-ÉPHREM-DE-BEAUCE, QC, June 26, 2012 /CNW Telbec/ - Sigma
Industries Inc. (TSXV: SSG), a manufacturing company specializing in
the production of composite and metal components, today announced a
reorganization of its U.S. operations. This process will allow the
Company to reduce its total debt and will entail the renaming of its
First, the Company has disposed of its property, plant and equipment in
Ohio, while continuing to operate the facilities under a long-term
lease. In this transaction, the acquirer has assumed $4.3 million in
debt related to these assets. The disposal will have no monetary impact
for the Company.
Second, the Company will continue its U.S. operations under RMC USA Inc.
This change is intended to take advantage of the strong recognition of
its Canadian subsidiary René Composites Materials Inc. ("René") as a
leading manufacturer of superior-quality products in its strategic
"Operating under RMC USA Inc. will increase the benefit to the Company,
as a whole, of René's high profile among the major players of the
composite materials industry," said Denis Bertrand, Sigma Industries
President and Chief Executive Officer. "In addition, the debt reduction
resulting from the disposal of our U.S. property, plant and equipment
will give us greater flexibility to increase our investment in the
development of new products and value-added solutions."
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company specializing in the production of
composite and metal components, has five operating subsidiaries and
employs close to 475 people. The Company is active in the heavy-duty
truck, coach, transit and bus, train and subway, machinery,
agriculture, and wind energy markets. Sigma sells its products to
original equipment manufacturers and distributors in the United States,
Canada and Europe.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE SIGMA INDUSTRIES INC.
For further information:
Sigma Industries Inc.
President and Chief Executive Officer
Martin Goulet, CFA