VANCOUVER, March 19, 2015 /CNW/ - WesternOne Inc. ("WesternOne") (Toronto Stock Exchange: WEQ, WEQ.DB and WEQ.DB.C) today announced that Mike Ridley, President of WesternOne's modular building construction and leasing business division ("Britco"), has resigned to pursue other opportunities.
Obie Erickson, Vice President of Manufacturing at Britco, has been appointed as interim President of Britco's Canadian operations and will assume the majority of Mr. Ridley's duties effective immediately. Mr. Erickson has been with Britco for over 25 years and has extensive experience leading teams in the design and construction of Britco's full range of modular products. He will be primarily focused on pursuing modular construction and leasing growth opportunities in Canada and monitoring production levels to meet the demands of the energy, commercial and other potential markets.
Brent Morgan, who has 16 years of experience in the modular construction industry in both Canada and the United States as a leader in sales, manufacturing and finance, will continue as President of Britco's US operations. Along with Mr. Erickson, Mr. Morgan will now report directly to Peter Blake, CEO of WesternOne, and together, they will actively lead the Britco organization's team to execute on strategic growth opportunities.
"Mike has been a valuable Britco team member and strong advocate for the modular construction industry over his 18-year tenure, and we wish him the very best in his future. I look forward to working more closely with both Obie and Brent as we evolve our growth plans," said Mr. Blake.
WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sectors in order to generate value for its shareholders.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
Certain statements in this press release may constitute "forward-looking" information that involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such information includes, without limitation, statements with respect to: the assumption by Mr. Erickson of the majority of Mr. Ridley's duties; Mr. Erickson's primary focus on pursuing modular construction and leasing growth opportunities in Canada and monitoring production levels to meet the demands of markets; and the leading of the Britco organization team by Messrs. Erickson and Morgan. Actual events or results may differ materially.
Forward-looking information contained in this press release is based on certain key expectations and assumptions made by WesternOne, including, without limitation: the outlook of WesternOne's business and the economy in Western Canada and the US, the supply and demand for WesternOne's products and services, a protracted period of lower crude oil prices and management's assessment of future plans and operations. Although the forward-looking information contained in this press release is based upon what the WesternOne's management believes to be reasonable assumptions, WesternOne cannot assure investors that actual results will be consistent with such information. Forward-looking information reflects current expectations of management regarding future events and operating performance as of the date of this press release. Such information involves significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, and a description of these factors can be found under "Risk Factors" in WesternOne's Annual Information Form dated March 28, 2014 and Management's Discussion and Analysis dated March 4, 2015, which are available on SEDAR (www.sedar.com).
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to WesternOne. The forward-looking information is made as of the date of this press release and WesternOne assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
SOURCE WesternOne Inc.
For further information: For more information about this press release, please contact: Peter Blake, Chief Executive Officer, WesternOne Inc., Suite 910, 925 West Georgia Street, Vancouver, BC V6C 3L2, Phone: (604) 678-4042, E-mail: [email protected]; For investor relations information, please contact: Andrew Greig, Manager of Investor Relations, WesternOne Inc., Suite 910, 925 West Georgia Street, Vancouver, BC V6C 3L2, Phone: (604) 678-4042, E-mail: [email protected]