CanWel Building Materials Group Ltd.
TSX : CWX

CanWel Building Materials Group Ltd.

June 16, 2011 11:30 ET

CanWel Building Materials Announces Executive Appointment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2011) -

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

CanWel Building Materials Group Ltd. ("CanWel" or "the Company") (TSX:CWX) announced today the following key executive appointment.

Marc Séguin, previously the General Manager for the Québec Region, will assume the role of President of the Company's CanWelBroadleaf Division. The appointment will be effective immediately, and Mr. Séguin will report directly to Amar S. Doman, Chairman and CEO of the Company.

"I am pleased to announce Marc as our new President of the CanWelBroadleaf Division. Marc has been with CanWel since 2006, has successfully managed one of our biggest regions, Québec, and has been closely involved in the integration of our Broadleaf acquisition. As we deploy our new operating platform for the benefit of the Canadian market place, Marc is uniquely suited to maintain focus internally across each of our core business regions as well as externally with our customers and suppliers," stated Mr. Doman. "Marc is a professional who will provide strong leadership and direction, and I am looking forward to working even more closely with him."

About CanWel Building Materials

CanWel Building Materials trades on the Toronto Stock Exchange under the symbol CWX and is one of Canada's largest national distributors in the building materials and related products sector, operating distribution centres coast to coast in all major cities and strategic locations across Canada. CanWel distributes a wide range of building materials, lumber, hardware and renovation products. Further information can be found in the disclosure documents filed by CanWel (and its predecessor, 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 or any potential disruptions resulting from the changing of senior management, 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, 2011 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.

Contact Information

  • CanWel Building Materials Group Ltd.
    Amar Doman
    Chairman and CEO
    (604) 608-6600