NANAIMO, BC, June 26, 2019 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSX-V: AEP; OTC Markets: APEUF) is pleased to announce a strategic partnership with MiTek Canada, Inc. ("MiTek"), a globally renowned supplier to the building industry. MiTek specializes in state-of-the-art BIM (Building-Information-Modeling) software, industrial equipment, facility management solutions and building products for use throughout all parts of the building industry value-chain.
"This partnership gives us access to cutting edge design and engineering technology, ensuring consistent quality standards at all our locations across Canada. Our designers will be able to collaborate and execute seamlessly using one shared technology platform," said AEP CEO & President, Dirk Maritz. "In addition, AEP's exclusive purchase of MiTek connector plates, building products and services is expected to unlock significant value for our Company, via gains in operational efficiencies as well as economies of scale across all of our operations."
MiTek is the recognized expert in developing efficient plant and process designs and is the best-in-class manufacturer / supplier / distributor of equipment and automated solutions for the truss and engineered wood products industries.
"The partnership enables us to minimize material and labour wastage, work hand-in-hand with MiTek's experts to optimize our plants, automate where applicable, and is backed by MiTek's industry-leading technical and manufacturing support teams," concluded Mr. Maritz.
As Dave Cattapan, President of MiTek Canada, Inc. explained, "It is our goal to support our partners at every stage of the process, through our design and engineering expertise, our cutting edge technologies, our operational support as well as via our superior connector products. This partnership agreement with AEP will help them increase speed and efficiency, achieving better bottom-line results for their business".
About Atlas Engineered Products Ltd.
AEP is a newly listed growth company, as of November 2017, that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. AEP has a well-defined and disciplined acquisition and operating strategy enabling it to scale aggressively, giving AEP a unique opportunity to consolidate a fragmented industry of independent operators.
About MiTek Canada, Inc.
MiTek Canada Inc. is the Canadian arm of the North American Residential Segment of MiTek Industries Inc. MiTek Industries Inc. is a diversified global supplier of software, engineered products, services, and equipment to the residential, commercial, and industrial construction sectors. MiTek has been part of the Berkshire Hathaway portfolio (NYSE: brk-a, NYSE: brk-b) since 2001 and is comprised of more than 40 operating companies, with operations on six continents and doing business in nearly 100 countries. Our 'People First'® culture calls on us to treat our Purpose Partners (team members) with respect, dignity and honor…a culture that underpins and influences everything that we do. Together with our customers, suppliers, trade partners and associates we seek to pursue our vision:
'Living and working in celebration, our vision is for MiTek to be in every structure worldwide'
Forward Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: Risks and uncertainties relating to the Company, including those to be described in the Management's Discussion and Analysis ("MD&A") for the Company's seven-month year ended December 31, 2018 and the interim period ended March 31, 2019. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER THE 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 Atlas Engineered Products Ltd.
For further information: Atlas Engineered Products Ltd., Dirk Maritz, CEO & President, Phone: 1-250-754-1400, Email: [email protected], Unit 102, 6551 Aulds Road, Nanaimo, BC V9S 5X9, www.atlasengineeredproducts.com; For investor relations please contact: Rob Gamley, Phone: 1-604-689-7422, Email: [email protected], Contact Financial Corp., 810 - 609 Granville St., Vancouver, BC V7Y 1G5