TORONTO, April 2,
2024 /CNW/ - TerraVest Industries Inc., (TSX: TVK)
("TerraVest") is pleased to announce it has entered into an
agreement to acquire Advance Engineered Products ("Advance" or the
"Company"). Headquartered in Regina,
Saskatchewan, Advance is a leading Canadian manufacturer and
service provider in the tank trailer industry in Canada.
"We are extremely excited about joining the Terravest
family as it presents us with unparalleled opportunities for
expansion, innovation, and reaching new heights in the tanker
trailer industry. Together with Terravest, I am confident that we
will take Advance to the next level while continuing to create
industry leading value for our outstanding employees and
customers." said Mr. Zwarych, President and Chief Executive Officer
of Advance.
Dustin Haw, Chief Executive
Officer of TerraVest, welcomes the employees and management of
Advance and looks forward to their continuing commitment to the
business and its customers. "With its diverse product portfolio and
extensive service platform, Advance is highly complementary to our
existing tank trailer businesses. We look forward to leveraging our
collective product and service offerings to enhance the Company's
growth, and we're delighted to welcome the Advance employees to the
TerraVest family." said Mr. Haw.
Caution Regarding
Forward-Looking Statements
This news release contains forward-looking statements.
All statements other than statements of historical fact contained
in this news release are forward-looking statements, including,
without limitation, statements regarding our strategic direction
and evaluation of the business segments and TerraVest as a whole,
TerraVest's plans with respect to its existing portfolio businesses
and long-term acquisition strategy and other plans and objectives
of or involving TerraVest. Readers can identify many of these
statements by looking for words such as "expects" and "will" or
similar terms or variations of these words. Although management
believes that the expectations represented in such forward-looking
statements are reasonable, there can be no assurance that such
expectations will prove to be correct.
By their nature, forward-looking statements require us to
make assumptions and, accordingly, forward-looking statements are
subject to inherent risks and uncertainties. There is significant
risk that the forward-looking statements will not prove to be
accurate. We caution readers of this news release not to place
undue reliance on our forward-looking statements because a number
of factors may cause actual future circumstances, results,
conditions, actions or events to differ materially from the plans,
expectations, estimates or intentions expressed in the
forward-looking statements and the assumptions underlying the
forward-looking statements.
Assumptions and analysis about the performance of TerraVest
as a whole and its business segments, the markets in which the
business segments compete and the prospects and values of the
business segments are considered in setting the business plan for
TerraVest, plans and/or ability to pay dividends, outlook for
operations, financial position, results and cash flows, other plans
and objectives and in making related forward-looking statements.
Such assumptions include, without limitation, demand for
products and services of the business segments in respect of the
Canadian and other markets in which the businesses are active will
be stable, and that input costs to business segments do not vary
significantly from levels experienced
historically. Should any of these factors or
assumptions vary, actual results may differ materially from the
forward-looking statements.
SOURCE TerraVest Industries Inc.