MONTREAL, March 17, 2015 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) anticipates top-line revenue of approximately $60-million for the year ended December 31, 2014, as compared to $56-million in 2013. The company anticipates releasing its full audited 2014 financial results on April 21, 2015.
"Our legacy plastics businesses performed as expected in 2014, allowing us to invest in our novel agricultural film products, an area where we see the majority of the company's future growth deriving," commented Joe Abbandonato, President and Chief Executive Officer of Imaflex. "In 2014 we dramatically changed our agricultural film portfolio, through the acquisition of ADVASEAL from Bayer and the launch of SHINE N' RIPE XL. Adding these two highly differentiated products to our already diverse portfolio of agricultural films, positions Imaflex as a leader in the large and growing agricultural mulch film market."
Imaflex is also pleased to announce its corporate goals and objectives for 2015:
- Provide the company's patented active ingredient coated agricultural film, ADVASEAL, to select American growers for testing in the 2015 growing season
- Build awareness and adoption of SHINE N' RIPE XL, the company's long lasting metalized film for the management of citrus greening, among citrus growers, citrus industry organizations, and government bodies
- After significant effort and changes over the past several years, Imaflex USA, the company's US operations, will finally become a positive contributor to consolidated earnings
Mr. Abbandonato added: "We are expecting to see increasing rewards for our investment in, and commitment to, the agricultural film business. I anticipate agricultural films will not only become an important revenue contributor, but also our means towards greater EBITDA margins, in the near future."
Neither 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.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes "forward-looking" statements within the meaning of Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the management of the Corporation, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies. The Corporation cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Imaflex to be materially different from the Corporation's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Corporation's most recent Management Discussion and Analysis filed on SEDAR. The Corporation disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
SOURCE Imaflex Inc.
For further information: Imaflex Inc., Joseph Abbandonato, President and C.E.O, Giancarlo Santella, CPA, CA - Corporate Controller, Tel: (514) 935 - 5710, Fax: (514) 935 - 0264, e-mail: [email protected], Website: www.imaflex.com