Automodular Corporation

Automodular Corporation

December 20, 2006 16:15 ET

Automodular Corporation: Offer of Interest Declined

TORONTO, ONTARIO--(CCNMatthews - Dec. 20, 2006) - Automodular Corporation ("Automodular")(TSX:AM) advises that its board has reviewed and considered the materials and proposals submitted in connection with the unsolicited and non-binding conditional expression of interest received on December 12, 2006 from a major automotive parts supplier. The Automodular board has also met with representatives of the aforementioned supplier to discuss the plans and proposals respecting Automodular.

Automodular advises that it has declined to proceed with the proposed combination and subsequent offer on the basis that it would not be in the best interests of the Corporation or its shareholders at this time.

Automodular Corporation is a supplier of sub-assembly, sequencing, transportation and logistics services to six Original Equipment Manufacturer plants in Ontario, Michigan and Ohio. The Company has six operating facilities and employs over 800 people.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Automodular Corporation
    Christopher Nutt
    Vice President, Finance
    (416) 861-0662 x 223