Guelph, Ontario, April 4, 2007
Armtec Infrastructure Income Fund announced that it has formed a Joint Venture to manufacture Bridge-Plate in South Korea. Armtec and Fixon will be equal shareholders in the proposed Joint Venture. Fixon, a corrugated steel pipe manufacturer, is located in Gwangyang City, South Korea and has been selling Armtec's Bridge-Plate in South Korea for the past three years. Armtec's capital investment will largely be applied towards the acquisition of Bridge-Plate forming machinery.
"This Joint Venture supports our longer term growth strategy by establishing operations in a high potential international market. The market size and demand for bridge structures in South Korea is significant and is expected to expand due to the unique topography and the continuing development of the country's road system," said Charles Phillips, President and Chief Executive Officer of Armtec Limited Partnership. "Fixon and Armtec have developed a strong relationship based on our focus on product innovation. This new investment will expand our geographic diversity, a key component of our long-term strategy. Furthermore, a licensing agreement between Fixon and Armtec has been proposed to share "technological know-how" between the parties as part of the transaction. We see this as beneficial to both parties as the Joint Venture progresses."
Construction Today - Fixing What Lurks Below (PDF 8M)
When it comes to keeping water away from homes, Armtec - a Guelph, Ontario, Canada-based foundation damproofing provider and corrugated pipe maker - boasts a wide range of solutions. Read more...
PLATON - DON'T BUILD WITHOUT IT! Platon is manufactured in Armtec's plant from High Density Polyethylene (HDPE), the same material used in corrugated plastic drain pipe, one of the toughest and longest lasting plastics. Platon provides a permanent water and moisture barrier.
