Toronto Stock Exchange: ARF.UN
GUELPH, ON, Oct. 28, 2009 /CNW/ - Armtec Infrastructure Income Fund (the "Fund") (TSX: ARF.UN) today announced it has acquired multi-year licences from Concrete Innovations Services LLC to sell Whisper Wall sound absorbing noise barrier wall panels in markets across Canada. The panels, which are constructed from a unique combination of sound absorptive mixture made from recycled rubber tires and structural concrete, provide an effective, environmentally friendly solution for noise reduction by dissipating the energy of sound waves that pass through them.
Under the terms of the agreement, the Fund extends the exclusive licence formerly held by Groupe Tremca to market the product in the Fund's Central and East regions, which include Ontario, Quebec and the Atlantic Provinces. The Fund also acquired a non-exclusive licence to sell the product in the Prairie and Pacific regions, covering the provinces of Manitoba, Saskatchewan, Alberta and British Columbia.
Whisper Wall panels are 20.3 centimetres thick and are designed to be stacked to the wall's required elevation by a tongue and groove system that aligns and interlocks each panel in place along a horizontal joint. Panels can span up to a distance of 7.3 metres and stacked as high as 16.5 metres.
"The addition of Whisper Wall to our comprehensive line of products supports the Fund's growth strategy by expanding its product offering and providing customers in key infrastructure markets across Canada with greater choice for clean technology solutions that meet their requirements," said Charles Phillips, President and Chief Executive Officer. "With the extension of our exclusive licence in Central and Eastern Canada, the Fund will build on the achievements of Groupe Tremca in successfully marketing this technology in infrastructure markets in these regions. At the same time, with our greater visibility in Western Canada, the Fund is well positioned to build its competitive presence by offering a greater choice of industry-leading absorptive technology solutions to a growing number of customers in public infrastructure markets across the region."
About Armtec Infrastructure Income Fund
Armtec Infrastructure Income Fund is a leading manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets in North America and worldwide. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Operating through its network of regional offices and production facilities across the country, Armtec is Canada's only national multi-material infrastructure application manufacturer. The Fund specializes in high density polyethylene and corrugated steel pipe products for drainage and bridge applications, water management systems, a full suite of highway noise barriers and offers a wide variety of precast and pre-stressed concrete products, which provide advanced construction components and high-value engineered solutions to its customers. Armtec Infrastructure Income Fund is listed on the TSX under the ARF.UN symbol. For more information, please visit www.armtecincomefund.com.
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). All statements other than statements of historical fact contained herein are forward-looking statements, including, without limitation, statements regarding the impact of the above noted contract award and capacity expansion on the Fund's financial performance and statements regarding the business strategy, plans and objectives of or involving the Fund or the businesses in which it has invested. Prospective investors can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
By their nature, forward-looking statements require assumptions and are subject to inherent risks and uncertainties, including those discussed herein. There is significant risk that forward-looking statements will not prove to be accurate. You are cautioned not to place undue reliance on forward-looking statements made herein because a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: industry cyclicality; competition; reduction in demand for products; collection from customers; relationships with suppliers; lack of long-term agreements; expiration of rights under licence and distribution arrangements; raw material price volatility; product liability; intellectual property; reliance on key personnel; environmental; collective bargaining; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; dependence on other Fund subsidiaries; income tax matters; leverage and restrictive covenants; credit facilities; nature of units; distribution of securities on redemption or termination of Fund; restrictions on potential growth; effect of market interest rates on price of Units; undiversified and illiquid holdings in Armtec Operating Trust; and potential dilution. You are cautioned that the foregoing list of factors is not exhaustive and that when relying on forward-looking statements to make decisions with respect to the Fund, investors and others should carefully consider these factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.
The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The Fund undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities law.
Risks related to the Fund have been summarized in the Fund's latest Annual Information Form, Management's Discussion and Analysis included in the Annual Report and quarterly financial reports available on www.sedar.com or the Fund's web site at www.armtecincomefund.com
SOURCE ARMTEC INFRASTRUCTURE INCOME FUND
For further information: For further information: Charles M. Phillips, President & Chief Executive Officer, Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519) 822-8894; James R. Newell, Chief Financial Officer, Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519) 822-8894; Carrie Boutcher, Vice President, Investor Relations & Treasurer, Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519) 822-8894