SAINT-GEORGES, QC, March 30, 2015 /CNW Telbec/ - Manac Inc. (TSX: MA) ("Manac" or the "Company"), a North American leader in the design and manufacture of specialty trailers, announced today that its Board of Directors has decided to initiate a review of strategic alternatives for Manac, with a view to enhancing shareholder value. Strategic alternatives may include, but are not limited to, a sale of the Company, a merger with another company, or another business combination. "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 its business operations will be unaffected. No decision has been made to enter into any specific transaction at this time, and there can be no assurance that the process will lead to the conclusion of a transaction in the future. Manac may also ultimately determine that its current business plan represents the best means to enhance shareholder value.
The Company will not comment further regarding this process unless a specific transaction is approved or recommended for approval by the Board, the review process is concluded, or it is otherwise determined that further disclosure is appropriate or required by law. Manac has engaged Stifel as its financial advisor in connection with this review process.
About Manac Inc.
Manac is the largest manufacturer of trailers in Canada and a leader in the manufacturing of specialty trailers in North America. Manac offers a wide range of vans, flatbeds and specialty trailers such as dumps, low beds, grain hoppers, chassis, chip and logging trailers, all of which are sold in Canada and the United States under the recognized brands Manac®, CPS®, Peerless®, Scona®, Darkwing®, UltraPlate®, UltravanTM, FleetSeriesTM and Liddell Canada®. Manac services the heavy-duty trailer industry for the highway transportation, construction, energy, mining, forestry and agricultural sectors and manufactures its trailers in facilities located in Saint-Georges, QC, Penticton, BC as well as Oran and Kennett, MO.
Forward looking statements
The statements set forth in this press release, which describes Manac's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "believe", "could", "should", "intend", "expect", "estimate", "assume" and other related expressions are used to identify such statements. Manac would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Manac's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the transportation, trucking and trailer industries, exchange rate variations, and such other risks as described in detail from time to time in the reports filed by Manac with securities authorities in Canada. In addition, there can be no assurance that the strategic review process will result in the consummation of any transaction or agreement. Unless otherwise required by applicable securities laws, Manac disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
SOURCE Manac Inc.
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