Toronto Stock Exchange: ARF.UN
GUELPH, ON, Feb. 25 /CNW/ - Armtec Infrastructure Income Fund (TSX:
ARF.UN) today announced the realignment of its organizational structure and
the appointment of two experienced senior executives to strengthen its
management team and drive its future strategic growth.
Effective immediately, the company has created two operating divisions,
Armtec and Con-Force. The Armtec division is Canada's only national
multi-material manufacturer specializing in high density polyethylene pipe,
corrugated steel pipe for drainage applications and highly engineered
solutions including bridging products and water management systems. The
Con-Force division designs and manufactures a wide range of bridging and
To support this new organization, Kevin Young is appointed President of
the Armtec division. He will report to Charles Phillips, Armtec's President
and Chief Executive Officer. The Con-Force division will continue to be led by
Ron Adams, who, along with his responsibilities as President of Con-Force
division serves as an Executive Vice President of Armtec. Mr. Adams also
reports to Mr. Phillips.
Prior to joining Armtec, Mr. Young held a number of senior leadership
positions in growth-oriented industrial businesses. His experience includes
roles as President of Unisync Group, a full-service, vertically integrated
provider of corporate apparel and related product solutions, and President,
Western Region with Indalex Aluminum Solutions, one of the world's largest
aluminum extrusion companies in the building trades industry, following
progressively senior positions with the company. In the past, he has also
provided independent advisory services to a wide variety of companies in areas
such as corporate and business strategy, mergers and acquisitions, marketing
and sales. Mr. Young holds a Master of Business Administration degree from the
Wharton School at the University of Pennsylvania.
"In recruiting for this key role, we sought out a seasoned and highly
experienced business executive with a proven track record of performance,"
said Charles Phillips, President and Chief Executive Officer. "Kevin brings
outstanding leadership skills and broad business experience gained in
consulting and serving in senior executive positions. He makes a great
addition to our senior management team and I am confident that he will play a
leading role in strengthening Armtec's competitive market position."
James Newell assumes duties as Chief Financial Officer, effective March
6, 2008, and will report to Mr. Phillips. Mr. Newell assumes leadership
responsibility for Armtec's financial activities and in developing the Fund's
strategic growth plan as CFO. He takes over these duties from Interim CFO
Carrie Boutcher, who resumes her executive role as Vice President, Finance.
Prior to joining Armtec, Mr. Newell served as Chief Financial Officer at
Grafikom L.P., a leading commercial, digital and specialty printing company.
He has held progressively senior financial management positions at Star Data
Systems, a leading supplier of financial information and transaction
processing services to Canada's investment community, culminating in Senior
Vice President, Business Development and CFO. Mr. Newell is a Chartered
Accountant with a Bachelor of Commerce degree from Carleton University in
"Jim's wealth of experience in managing the financial affairs of public
companies, together with his demonstrated expertise in leading acquisition
transactions and new business integration, will prove an invaluable asset for
Armtec as we continue to build on our existing strengths and grow the Fund for
the future," said Mr. Phillips. "In welcoming Jim to the Armtec team, I would
also like to acknowledge the hard work, dedication and leadership that Carrie
brought to this assignment during the interim period and I look forward to her
continued contribution in the future."
About Armtec Infrastructure Income Fund
Armtec is a leading manufacturer and marketer of drainage products and
engineered bridging solutions for infrastructure applications in a diverse
cross-section of industries. These include the public infrastructure market
and private sector markets such as natural resources, commercial building,
residential construction and agricultural drainage in Canada. The Fund's
Armtec division is Canada's only national multi-material manufacturer
specializing in corrugated high density polyethylene pipe, corrugated steel
pipe for drainage applications and highly engineered solutions including
bridging products and water management systems. The Con-Force division designs
and manufactures a wide range of bridging and construction products including
the advanced "NU" bridge girder system that allows for some of the longest
spans available in precast concrete technology.
For further information:
For further information: Charles M. Phillips, President & Chief
Executive Officer, Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519)
822-8894; Carrie Boutcher, Vice President, Finance, Armtec Limited
Partnership, Tel: (519) 822-0210, Fax: (519) 822-8894