NANAIMO, BC, June 3, 2019 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSX-V: AEP; OTC Markets: APEUF) is pleased to announce the installation of a fully automated Roller Gantry, customized cutter saw and expanded pressing system at its Satellite Building Components ("Satellite") facility in Merrickville, Ontario.
"This type of automated equipment ensures we can keep up with the extra supply demands we're experiencing in this market," explained AEP CEO, Dirk Maritz. "Large mounted display screens eliminate the use of paper and extra travel in the shop, and our overall production speed increases significantly."
Established in 1974, Satellite was acquired by AEP on August 1, 2018 (See press releases dated July 13, 2018 and August 2, 2018). Satellite specializes in designing and supplying roof trusses and engineered floor joists throughout Eastern Ontario.
"In addition to expanding our capacity, this installation allows us to offer more product lines," said Executive VP and AEP founder, Hadi Abassi. "Our partnerships with clients continue to grow as we move towards a turn-key construction project solutions model for Satellite, and for all our current and future locations."
The new 14' x 60' Roller Gantry increases assembly by as much as 60%, while the linear feed custom cutter saw more than doubles cutting capacity. The new 8' x 30' Auto 8 Pressing System has allowed for the introduction of 4' x 2' floor trusses to Satellite's product mix.
Satellite Building Components and other AEP plants in BC and Ontario use laser precision, software and automation to manufacture engineered products, in a controlled indoor factory environment using standardized best practices.
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 growth strategy enabling it to scale aggressively, giving AEP a unique opportunity to consolidate a fragmented industry of independent operators.
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. 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