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Canadian trailer maker Manac explores merger or sale

放大字体  缩小字体 Release date:2018-04-21  Author:cutting tools  Views:903
Core Tip:ST-GEORGES, QC — Manac Inc. is reviewing strategic options including a possible sale of the company, says the Q

Canadian trailer maker Manac explores merger or saleST-GEORGES, QC — Manac Inc. is reviewing strategic options including a possible sale of the company, says the Quebec-based truck trailer manufacturer.

Manac, who makes specialty trailers such as grain hoppers and logging trailers sold across North America, said it would also consider a merger or another business transaction.

Manac has a unique position within the North American trailer industry and this enviable position has significant strategic value, said Michel Labonté, Chairman of the Board.

Manac intends to continue with planned business activities throughout the strategic review process and promises its business operations will be unaffected.

The move comes just 18 months after it completed an initial public offering that netted the company about $40 million in gross proceeds, about half of which was used to repay debt.

The comapny acquired B.C.-based Peerless Ltd. last summer for $14.75 million.

Its net income decreased 26 per cent to $9.7 million last year despite higher revenue at $330.7 million due to the addition of Peerless. Manacs backlog reached a record $173.5 million.

For more information, visit www.manac.ca.


 
 
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