Atlas Engineered Products Ltd (CVE:AEP) (OTCMKTS:APEUF) on Thursday provided an update on the significant contracts being awarded at its three facilities in western Canada.
The biggest win for the Nanaimo, British Columbia-based company is four multi-family development projects totaling over $2.3 million of combined engineered wood product and truss packages.
"As the construction industry embraces the shift to customized engineered roofs, walls, floors and beams, particularly for multi-family developments, the value and size of individual AEP projects and client relationships is growing rapidly," said CEO Dirk Maritz in a statement.
"By investing in new technology, design and engineering capacity we are able to offer additional product lines and turn-key project delivery. AEP is continuing, on a weekly basis, to secure significant projects into the new year," he said.
Maritz added that the company is “scheduling an unprecedented number of projects to carry into Q1 2020 and beyond."
Other recent highlights of Atlas’ multi-family development business include:
- Three multi-family development projects with combined contracts for truss and laminated veneer wood totaling more than $260,000;
- Coastal Windows & Doors (Nanaimo, BC) client base continues to grow on Vancouver Island and is now expanding into the BC interior;
- Kelowna multi-family development - $295,000;
- Victoria multi-family development - $374,000; and
- South Central Building Systems (Carman, Manitoba) is in the midst of a significant four-story project worth over $300,000 in downtown Winnipeg that will employ both roof and floor trusses custom manufactured at the facility.
Atlas' stock recently traded up 1.1% to C$0.45 a share in Canada.
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