SAINT-ÉPHREM-DE-BEAUCE, QC, March 17, 2014 /CNW Telbec/ - Sigma Industries
Inc. (TSX-V: SSG), a manufacturing company specializing in the
production of composite components, announces the creation of
approximately 50 direct jobs and about 15 indirect jobs at the René
Composites Materials Ltd. ("René") facilities located in
Saint-Éphrem-de-Beauce and Sainte-Clotilde-de-Beauce.
These new jobs result from the Company's
decision to further specialize its operations in the production of
components using the closed mould manufacturing process given a
favourable market outlook in this domain. This process facilitates
the production of higher quality composite components, while
reducing cycle times and raw material losses.
Given this specialization, the production of
certain heavy-duty truck components will be transferred to René's
facilities. The Company estimates the sales of the transferred
production at approximately $8.0
million on an annual basis and this increased activity will
allow René to show its innovation capabilities. The transferred
production was previously carried out at Sigma's U.S. facilities in
Ohio. The transfer of operations
will progressively take place during the spring. Thereafter, the
Company intends to shut down its U.S.-based operations.
"Sigma Industries is proud to create new jobs in
a promising sector. René's proven reputation with regards to
quality and innovation was a determining factor in our decision to
concentrate a greater proportion of our fabrication at its
facilities. In addition, we believe we will be able to leverage
this expertise to further develop our presence in our strategic
markets," said Denis Bertrand,
President and Chief Executive Officer of Sigma Industries.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a manufacturing company
specializing in the production of composite components, has four
operating subsidiaries and employs 400 people. The Company is
active in the heavy-duty truck, coach, transit, machinery and wind
energy markets. Sigma sells its products to original equipment
manufacturers and distributors in the
United States, Canada and
Europe.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements
about the Company. Such forward-looking statements are dependent on
a number of factors and are subject to risks and uncertainties.
Actual results may differ from those expected. The information
contained in this press release is dated March 17, 2014, the date on which management
approved the press release. Management does not assume any
obligation to update or revise any forward-looking statements,
whether as a result of new information or future events, except as
required by law.
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 SIGMA INDUSTRIES INC.