CanWel Building Materials Group Ltd.
TSX : CWX.UN

CanWel Building Materials Group Ltd.

July 22, 2009 16:00 ET

CanWel Building Materials Income Fund Announces the Grand Opening of a New Distribution Centre

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2009) -

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

CanWel Building Materials Income Fund (the "Fund") (TSX:CWX.UN) is pleased to announce the relocation of the Fund's Saskatoon distribution centre into a brand new, 30,000 square foot purpose built facility, which sits on approximately eight acres of land. The new distribution centre is expected to provide the Fund with the ability to provide a broader suite of products and services for its customers.

CanWel is pleased to demonstrate its commitment to this important market, and it is anticipated that this new expanded facility will assist CanWel in driving increased sales in future periods given the complete suite of products being distributed through it.

"I am extremely pleased, and would like to thank our Saskatoon team for their hard work and commitment in successfully completing the relocation, and setting up of the new distribution centre," noted Amar Doman, Chairman of the Board. "We look forward to supplying our customers in this region with an expanded portfolio of products and services."

The Fund trades on the Toronto Stock Exchange under the symbol CWX.UN and is one of Canada's largest national distributors in the building materials and related products sector, operating 16 distribution centres across Canada. The Fund 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 the Fund'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 the Fund, including the performance of, and distributable cash generated by, its subsidiaries, 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, but are not limited to risks such as increased sales may not necessarily result from the new facility, or that sales may decrease if customers do not utilize the new facility, that any cost increases attributed to the new facility may not be covered by increased sales, that competitors may take a more aggressive approach when competing against the Fund, 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, environmental risk, interest rate changes, operating costs, and competitive conditions. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The foregoing risk factors are not exhaustive and are merely illustrative; 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 the Fund with Canadian Securities Commissions and available on Sedar (http://www.sedar.com). The Fund 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.

Contact Information

  • CanWel Building Materials Income Fund
    Ali Mahdavi
    Investor Relations
    416-962-3300 or +1(866) 430-6247
    am@spinnakercmi.com