NAPEC Inc.
TSX : NPC

NAPEC Inc.

March 30, 2015 08:30 ET

NAPEC Inc. Appoints Michael LeBoldus as President of its Ontario Subsidiary Riggs Distler Inc.

DRUMMONDVILLE, QUEBEC--(Marketwired - March 30, 2015) - NAPEC Inc. ("NAPEC" or the "Corporation") (TSX:NPC) is pleased to announce the appointment of Michael LeBoldus as President of its Ontario-based subsidiary Riggs Distler Inc. ("RDI"). He takes office as of today.

Mr. LeBoldus has close to three decades of experience in the energy sector. For the past four years, he has occupied the position of Chief Operations Officer of Sourcetec Ltd., a provider of green energy products and air purification solutions to industrial, commercial, government and residential clients in North America. Previously, Mr. LeBoldus had spent almost three years as Vice-President and General Manager for Mitsubishi Electric Canada Inc. Prior to that, he occupied several senior management positions in large-scale corporations, such as Siemens Canada Inc., Honeywell Canada Ltd., and Suncor Energy.

Michael LeBoldus holds an MBA degree from Wilfrid Laurier University, as well as Masters of Engineering and Bachelor of Engineering degrees from Queen's University.

"The appointment of Michael LeBoldus is an important step in the development of RDI. From its beginning in 2012, NAPEC's presence in Ontario has grown very rapidly, reaching revenues of $41.1 million in 2014. More importantly, we believe that Ontario holds a considerable growth potential for NAPEC. We are already well established in the electric underground network and substation markets, while our strategic plan aims to further grow our presence in regards to electricity transmission and distribution lines. All members of the Board of Directors and the management team join me in congratulating him on his appointment", said Pierre L. Gauthier, President and Chief Executive Officer of NAPEC.

FORWARD-LOOKING STATEMENTS

This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.

OVERVIEW OF THE CORPORATION

NAPEC is a corporation operating in the energy sector. The Corporation is a leading service provider to the public utility and heavy industrial markets mainly in Quebec, Ontario, and the eastern United States. NAPEC and its subsidiaries build and maintain electrical transmission and distribution grids, as well as networks for gas utilities. In addition, the Corporation installs gas-powered and electric-powered heavy equipment for utilities, industrial gas power plants, and petrochemical facilities in North America.

Further information regarding NAPEC is available in the SEDAR database (www.sedar.com) and on the Corporation's website at www.napec.ca.

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