AirBoss of America Corp.: North Carolina Expansion.NEWMARKET, Ontario Newmarket (2006 Population 74,295) is a town located approximately 45 km north of Toronto, Ontario, Canada. Newmarket is served by three interchanges along Highway 404. It is the seat of York Region. Southlake Regional Health Centre (hospital) is located in Newmarket. -- AirBoss of America Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BOS) announced today plans to commence rubber compound manufacturing at a facility in Waynesville, North Carolina Waynesville is an incorporated town in Haywood County, North Carolina, United States of America and is its county seatGR6. It is the largest town in Haywood County and the largest in Western North Carolina west of Asheville. . Production will begin in January at an initial rate of approximately 20 million pounds annually to service the needs of important, U.S.A.-based, major customers with selected high performance formulations. The new location will free up much needed capacity at the company's main Kitchener, Ontario facility, and in Acton Vale, Quebec Acton Vale (2006 Population 7,797) is an industrial town in south-central Quebec, Canada. It is the seat of the Regional County Municipality of Acton (MRC d'Acton). The town covers an area of 90.96 km². The town grew 6.4% from 2001 to 2006. . Both expect to build on the strong growth experienced in 2004. In announcing the expansion, Mr. Kim Aagaard, COO, stated, "I am pleased that our board has approved this first step of our program to establish a major manufacturing presence in the United States. While we have enjoyed a strong market position for a number of years, it was time to make a strategic commitment. Our capacity will now exceed 220 million pounds and further U.S. expansion is planned for 2005. We will continue to invest in order to support our customers' growth with unrivalled value." AirBoss is a manufacturer of proprietary rubber and plastic products for the transportation industry and military. AirBoss is also one of North America's largest rubber mixing companies specializing in custom rubber mixing and compound development. AirBoss is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BOS. AIRBOSS FORWARD LOOKING STATEMENT DISCLAIMER This report contains forward-looking statements, which reflect management's best judgement based on factors currently known but involve significant risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including but not limited to risks more fully described in the "Risk factors" section of the Company's Annual Report, and other risks detailed in filings with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . Forward-looking information provided pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. established by recent securities legislation should be evaluated in the context of these factors. Airboss Of America Corp. (TSX:BOS) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion