NANAIMO,
BC, May 21, 2024 /CNW/ - Atlas Engineered
Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF)
is pleased to announce the acquisition of an additional 1 acre of
industrial zoned land adjacent to its Clinton Building Components
("Clinton") facility in Clinton,
Ontario. This is in addition to another 1.5 acres of land
purchased immediately adjacent to Clinton a few years ago. This expansion is
integral to the Company's ongoing efforts to enhance manufacturing
capabilities through automation and robotics.
Both parcels of land will be developed to support future robotic
automation projects aimed at boosting operational efficiencies and
expanding production capacity to meet housing demands. "With this
acquisition, we are positioning ourselves to meet the steady demand
we see in the market, despite high interest rates remaining
unchanged. This proactive expansion and automation initiative shows
our commitment to staying ahead of industry trends and demand
curves," said Hadi Abassi, CEO & President of AEP.
About Atlas Engineered Products
Ltd.
AEP is a growth company that is acquiring and operating
profitable, well-established operations in Canada's truss and engineered products
industry. We have a well-defined and disciplined acquisition and
operating growth strategy enabling us to scale aggressively and
apply new technologies, giving us 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. Although AEP believes that
the expectations reflected in the forward looking statements are
reasonable, there is no assurance that such expectations will prove
to be correct, or that such future events will occur in the
disclosed time frames or at all. AEP 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 AEP's control. Such factors include,
among other things: Risks and uncertainties relating to AEP,
including those to be described in the Management's Discussion and
Analysis ("MD&A") for AEP's year ended December 31, 2023. 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, AEP 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.