SAINT-GEORGES, QC, Jan. 22, 2014 /CNW Telbec/ - Canam Group (TSX: CAM) today announced the acquisition of a 66% interest in an engineering firm that specializes in wood structures. The transaction, the amount of which has not been disclosed, was completed in the final days of 2013.
The company, called Massif Technologies, is composed of a group of engineers and technicians who are specialized in designing non-residential buildings featuring a wooden frame or wood components. The Company, which has offices in Quebec City and Saguenay, also has expertise in project management. Massif Technologies has taken part in the construction of multiple projects in recent years, including the Saint-Lin municipal pool, Everest Elementary School, the Mazda car dealership in Saint-Félicien, the National Bank building in Jonquière and the Sûreté du Québec police station in Sainte-Agathe.
Joël Nadeau, Vice President of the Canam Buildings division, believes that this transaction will help to make life easier for its customers by offering construction solutions integrating both wood and steel under one roof. "These materials each have their own advantages and few people possess the knowhow to successfully combine the two," he explained. "This sometimes forces customers to choose one over the other when they can very well be used together. Some customer-owners would also like to integrate engineered wood in certain types of buildings. We will now be able to meet their needs."
The President and General Manager of Massif Technologies, Dominique Briand, Eng., welcomes the new partnership. "It is with great enthusiasm that we are joining forces with Canam Group. This partnership will allow us to take our projects further and better serve our customers. Canam's vision, dynamic approach and resources make it the perfect partner for Massif Technologies and this association will provide us with the leverage needed to continue innovating and developing our market. The future looks very promising!"
About Canam Group Inc.
Canam Group is the largest fabricator of steel components in North America. Specialized in designing construction solutions and fabricating customized products since 1961, Canam Group takes part in an average of 10,000 construction projects each year in three activity sectors: buildings, structural steel and bridges. The Corporation operates 21 plants across North America and employs 3,600 people in Canada, the United States, Romania, India and Hong Kong.
SOURCE: Canam Group Inc.
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