CanWel Building Materials Group Ltd.
TSX : CWX.UN

CanWel Building Materials Group Ltd.

September 03, 2009 08:30 ET

CanWel Building Materials Announces Agreement to Distribute Flexgard Aspire House Wrap in Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 3, 2009) -

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

CanWel Building Materials Income Fund (the "Fund")(TSX:CWX.UN) is pleased to announce that its subsidiary, CanWel Building Materials Ltd. (CanWel) has entered into a distribution agreement with Engineered Coated Products ("ECP"), a division of Intertape Polymer Group, to provide national warehouse and distribution services for ECP's Flexgard Aspire house wrap products.

The addition of ECP house wrap products adds to CanWel's Specialty product offering and is an excellent complement to CanWel's siding category, providing a foundation for future growth within the Specialty family of products.

ECP is a world leader in developing, manufacturing and marketing innovative coating technologies. ECP is the largest manufacturer of woven coated fabrics in North America and have one of the most technologically advanced product lines. Flexgard Aspire is produced in Canada and has CCMC approvals for the Canadian market.

About CanWel

The Fund trades on the Toronto Stock Exchange under the symbol CWX.UN and CanWel is one of Canada's largest national distributors in the building materials and related products sector, operating 16 distribution centres across Canada. CanWel distributes a wide range of hardware, building materials, lumber and renovation products.

Further information can be found in the disclosure documents filed by CanWel Building Materials Income Fund with the securities regulatory authorities, available at www.sedar.com.

Certain statements in this press release may constitute "forward-looking" statements. When used in this press release, such statements use words, including but not limited to, "may", "will", "expect", "believe", "plan", "intend", "anticipate" and other similar terminology. These forward-looking statements reflect the current expectations of CanWel's management regarding future events but involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CanWel, including the performance of CanWel on a consolidated basis, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. These factors include the risk that a comprehensive distribution agreement may not be signed to replace the initial agreement, and that the arrangement may therefore not be renewed, the product lines will not be integrated successfully; sales of product may not occur at the levels or in the quantities management anticipated, the risk that any cost savings or any synergies from the agreement may not be fully realized or may take longer to realize than expected; or any disruptions resulting from the agreement or entering into of the agreement, making it more difficult to maintain relationships with customers, employees or suppliers. Additional risks and uncertainties include, among others: general economic and business conditions, product selling prices, commodity price fluctuations, information systems risk, operating costs, interest rate risk, credit risk, competitive conditions and other factors referenced herein and in the Company's AIF dated March 31, 2009 and our public filings on www.sedar.com. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the periodic and other reports filed by CanWel with Canadian Securities Commissions and available on Sedar (http://www.sedar.com). CanWel does not undertake, and specifically disclaims, any obligation to update or revise any forward looking information, whether as a result of new information, future developments or otherwise.

(1) References to the Fund include references to CanWel, and references to CanWel include references to the Fund, as the context may require.

(2) Information regarding ECP has been obtained from public information which CanWel expects to be reliable, however CanWel has not independently verified such information, and disclaims any liability arising therefrom.


Contact Information

  • CanWel Building Materials Income Fund
    Ali Mahdavi
    Investor Relations
    (416) 962-3300 or Toll Free: 1-866-430-6247
    Email: am@spinnakercmi.com
    or
    CanWel Building Materials Income Fund
    Tom Donaldson
    President
    (604) 432-1400