CALGARY, ALBERTA -- (Marketwired) -- 11/18/15 -- PFB Corporation (PFB) (TSX: PFB) announces that it has entered into an agreement to acquire an operating expanded polystyrene (EPS) molding plant in the Midwestern region of the USA. The Company plans to begin manufacturing EPS insulation products at the plant as a continuation of its strategy to expand the operations of PFB Corporation in the USA. The purchase price will be funded from working capital. Closing of the transaction, expected in December 2015, is subject to due diligence. PFB, through PFB America Corporation, presently has USA manufacturing operations in Lebanon, Ohio; in Blissfield, Michigan; and in Boise, Idaho. Plasti-Fab EPS insulation products will be available from the facility for the regional building material markets. "Existing customers of the facility can expect a continuation of historical product lines and services plus the addition of product lines introduced by Plasti-Fab," said Bruce Carruthers, Chief Operating Officer of PFB. "This is very exciting news as we continue our initiative to manufacture Plasti-Fab EPS Product Solutions in the USA."
About PFB
PFB Corporation has two operating subsidiaries, Plasti-Fab Ltd. that operates in Canada and PFB America Corporation that operates in the United States. PFB develops, manufactures and markets insulation building products and technologies based on expanded polystyrene technology; that, when used as components of a building envelope, enable residential and commercial structures to be highly energy-efficient. We are also expert in engineered geotechnical applications of our products. PFB building products are used in both new and renovation markets in residential, commercial and industrial projects.
The group is vertically integrated in manufacturing insulating building products marketed across North America under brandnames, Plasti-Fab, EPS Product Solutions®, Advantage ICF Systems®, Insulspan® Structural Insulating Panels Systems, and the PFB Custom Homes Group which includes Riverbend® Timber Framing, Precision Craft® Log & Timber Homes, Point Zero Homes and M.T.N. Design.
PFB Corporation is listed for trading on the Toronto Stock Exchange, under the symbol PFB.
Contacts:
PFB Corporation
C. Alan Smith
Chief Exectuive Officer
(403) 569-4332
100, 2886 Sunridge Way N.E.
Calgary, Alberta T1Y 7H9
